Chen Maobo: Hong Kong welcomes the Asian Development Bank to strengthen support for developing countries in addressing climate change, developing private markets, etc.

On May 5th, Hong Kong Financial Secretary Paul Chan Mo-po attended the annual meeting of the Asian Development Bank in Milan, Italy. He stated that Hong Kong welcomes the ADB to strengthen its support for developing countries in addressing climate change, developing private markets, promoting regional cooperation, digital transformation, and other initiatives. At the same time, Hong Kong also supports enhancing technical support for developing countries to improve the effectiveness of development projects. He pointed out that as an international financial center, Hong Kong is willing to continue sharing knowledge and exchanging experiences with other members in establishing capital markets, promoting green transformation and green finance development, infrastructure financing, and other areas. In addition, Paul Chan Mo-po also met with Rachel Thompson, a director representing Hong Kong's group on the ADB Board of Directors, to discuss how Hong Kong can better assist the ADB in issuing insurance-linked securities products, including catastrophe bonds, and exchanged views on the matter.