FS meets Georgian finance minister

On day two of his visit in Tbilisi, Georgia, Financial Secretary Paul Chan joined the constituency meeting of the 57th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) and met Georgia’s Minister of Finance.

During his meeting with Georgia’s Minister of Finance Lasha Khutsishvili yesterday afternoon, Mr Chan discussed issues including strengthening bilateral economic and trade relations, investment co-operation, tourism and people-to-people exchanges.

Mr Chan noted that Hong Kong is an international financial centre with high-quality and excellent professional services, and has well-established air and maritime networks, adding that he is confident the city can become an important platform for Georgian enterprises to expand their businesses in the region, and serve as a vital bridge that connects them with the vast market of Mainland China.

The finance chief also outlined Hong Kong's latest economic situation to Mr Khutsishvili.

In the morning, Mr Chan participated in the ADB annual meeting's constituency meeting, where he discussed the bank's work direction and strategy with representatives from a number of member countries. They touched on topics such as the future areas of focus, how to better utilise the ADB's capital and lending capacity, strengthening knowledge transfer and human resources training, and more.

Assisting ADB developing member countries in effectively addressing climate change is one of the main themes of this year's annual meeting.

Speaking at the constituency meeting, Mr Chan pointed out that Hong Kong possesses a vibrant and high-quality financial market, which can efficiently connect market funds with projects to assist member countries in need to combat climate change and engage in green and low-carbon transition.

He also highlighted that Hong Kong actively promotes insurance-linked securities products and has facilitated the issuance of a number of catastrophe bonds, which have not only helped the transfer and spread of the relevant risks to the securities market, but also extended disaster protection to more people.

Hong Kong's flourishing green tech ecosystem can provide innovative and practical solutions for green development in different countries, he added.

In the afternoon, Mr Chan met Executive Director representing Hong Kong, China's constituency in the ADB Board of Directors Rachel Thompson and Deputy Executive Director Lisa Wright.

They discussed how Hong Kong could better assist ADB developing member countries in sustainable development, with Mr Chan noting that green tech, green finance, and digital transformation should also be the focal points and key areas of support for member countries by the ADB.

The finance chief also stated that beyond offering financial and professional services, Hong Kong may also share its knowledge and experiences in the above areas with ADB members.

He also paid a courtesy visit to Ambassador Extraordinary & Plenipotentiary of the People's Republic of China to Georgia Zhou Qian, during which they exchanged views on the latest developments of Hong Kong and Georgia.

Mr Chan then attended a reception hosted by the ADB in the evening.