At a Hong Kong meeting on Oct. 20, Chinese Finance Minister Lan Fo’an urged Asia-Pacific Economic Cooperation (APEC) economies to coordinate policy and protect supply chains as regional growth is forecast to slow.
APEC’s Policy Support Unit expects the region’s economy to grow 3.2% in 2026, compared with 3.3% in 2025, and projects 3.0% growth in 2027. It forecasts inflation of 2.9% in 2026, up from 2.4% in 2025. The unit identified energy costs, geopolitical tensions and uncertainty over trade policy as risks to growth.
The outlook adds weight to the ministers’ discussions of household support and infrastructure financing. APEC said higher food and transportation costs could increase expenses for consumers and businesses.
Lan called for governments to discuss how their economic decisions affect other countries, according to the Hong Kong government’s account of his remarks. He also sought cooperation on artificial intelligence, the digital economy and low-carbon development, alongside measures to keep industrial supply chains stable.
China’s National Bureau of Statistics reported that its economy grew 4.5% from a year earlier in the third quarter, following 4.3% growth in the second quarter. Growth for the first nine months of 2026 was 4.6%.
Hong Kong Financial Secretary Paul Chan warned that sustained geopolitical shocks could push up fuel costs and inflation. He called for closer monitoring of financial risks and said digital infrastructure and the wider use of new technology would need continued investment, including private funding supported by predictable policies.
Before the gathering, China’s Ministry of Finance said ministers or representatives from all 21 APEC economies were expected to attend the Oct. 20-21 meeting. The agenda includes fiscal support for households, digital infrastructure financing, broader access to finance and exchanges among young finance professionals. The ministry said the talks were intended to contribute to the APEC leaders’ meeting in Shenzhen in November.
Participants are expected to work toward a joint statement and related policy documents. A news conference is scheduled for Oct. 21 after the talks.
