China flags APEC's role as key for a challenged global economy

China's Finance Minister Lan Foan called on APEC members to work more closely together to boost growth at a time when the global economy has been rocked by rapid change and the fallout from geopolitical conflicts.

A taxi drives past a sign for the APEC Finance Ministers' Meeting in Hong Kong, Oct 20, 2026. (Photo: Reuters/Tyrone Siu)

HONG KONG: The Asia-Pacific Economic Cooperation (APEC) forum has an increasingly important role in helping the world economy tackle the challenges it faces, China's Finance Minister Lan Foan said on Tuesday (Oct 20).

"APEC, as an engine of global economic growth, shoulders greater responsibility," Lan said in remarks at the opening of the APEC Finance Ministers' meeting in Hong Kong.

He called on the 21 members of the Pacific Rim grouping, which includes the United States, Japan and Russia, to work more closely together to boost growth at a time when the global economy has been rocked by rapid change and the fallout from geopolitical conflicts.

Lan also urged governments to cooperate on AI, the digital economy and green sector development, saying these efforts would create new sources of growth.

China, the world's second-largest economy, would continue comprehensive economic reforms, he said, without elaborating.

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