Finance and central bank deputies from across APEC member economies met in Shanghai last week to advance priorities on household fiscal support, digital infrastructure financing, financial access and opportunity for all, as well as the young financial talents dialogue.
Opening the meeting, Liao Min, Vice Minister of Finance of the People's Republic of China who also chaired the meeting, underscored the need for collective action as economies navigate heightened uncertainty and increasingly constrained fiscal space.
"Against this backdrop, closer cooperation is needed more than ever," Vice Minister Liao said, calling on member economies to uphold multilateralism, strengthen macroeconomic policy communication, and balance short-term growth with mid- to long-term fiscal sustainability, while safeguarding financial stability.
Turning to the broader regional outlook, Vice Minister Liao said sustaining growth would require both domestic resilience and continued openness across the Asia-Pacific.
He highlighted China's economic growth of 5 percent in 2025 and its contribution of about 30 percent to global GDP growth, underscoring its commitment to opening up and creating more business opportunities for the region and beyond.
"China is a mega market with 1.4 billion people and 400 million middle-income earners, and we are pressing ahead with building a unified market to further unleash domestic demand and consumption potential," he added.
During the meeting, deputies reviewed the global and regional economic and financial outlook with inputs from the International Monetary Fund, the World Bank and the APEC Policy Support Unit.
Discussions focused on how fiscal policy can more effectively support households at a time of constrained public finances, with deputies exchanging views on targeted transfers, social spending efficiency and the role of automatic stabilizers in cushioning shocks without undermining fiscal sustainability.
The discussion also examined approaches to closing digital infrastructure financing gaps, including the role of public-private partnerships, development finance institutions and capital markets in mobilizing long-term investment to support productivity, digitalization and inclusive growth.
Deputies exchanged views on strategies to expand financial access and opportunity across the region, exchanging views on the role of inclusive financial systems in supporting small businesses, households and underserved communities, while strengthening the resilience and integrity of the financial sector.
Recognizing the importance of long-term capacity building, discussions also covered the development of young financial talents dialogue program, with participants highlighting the need to strengthen policy expertise, foster cross-border exchange and equip the next generation of officials to navigate an increasingly complex economic and financial environment.
"Let's stay true to the APEC mission and carry forward the horse year's enterprising spirit and relentless drive to advance cooperation, promote economic growth and improve people's well-being in the region," he concluded.
Deputies endorsed the 2026 work plan for APEC Finance Ministers Process. Outcomes from the meeting will inform discussions ahead of the APEC Finance Ministers' Meeting, which China plans to host in October in Hong Kong, China.
