PHOTO HKSAR Hong Kong will give a staunch support to the Asian Development Bank and work together in infrastructure investment to increase productivity in the region, said Secretary for Financial Services and Treasury Christopher Hui Ching-yu.
He made his remarks during his visit to the Philippines for the 55th annual meeting of the Board of Governors of the Asian Development Bank in Manila.
After two virtual annual meetings this year, the physical meeting signaled that members were ready for more cooperation toward a rapid post-pandemic recovery, Hui said on Tuesday in a meeting with Jesus Domingo, the undersecretary of foreign affairs of the Philippines.
On the same day, he met with Felipe Medalla, the governor of Bangko Sentral ng Pilipinas, and Mark Joven, the undersecretary of finance of the Philippines.
On Monday, Hui met with Masatsugu Asakawa, the president of the ADB, and Tony McDonald, executive director of the ADB, who represents Hong Kong s constituency on the ADB Board of DirectorsADB Board of Directors.
Secretary for Financial Services and Treasury Christopher Hui meets with the Undersecretary of Foreign Affairs of the Philippines, Jesus Domingo, in Manila. PHOTO HKSAR Secretary for Financial Services and the Treasury Christopher Hui second right meets with Undersecretary of Finance of the Philippines Mark Joven second left PHOTO HKSAR During the meetings he encouraged the ADB to make use of the broad availability of financiers in Hong Kong for fundraising and the city's favorable market environment for the dim-sum bonds, considering the interest rate disparities between Hong Kong, the Chinese mainland and international economies.
Hong Kong is a popular destination for the ADB to raise funds. In 2021, the financial institution raised $928 million through bond issuances in Hong Kong. The volume of green and sustainable bonds arranged in Hong Kong was $31.3 billion last year, accounting for one-third of the Asian green and sustainable bond market.