FS meets with key finance and banking figures in Washington, DC (with photos)
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In the morning, he met with the Group Chairman of HSBC, Mr Douglas Flint, and other senior management of HSBC to discuss in depth the current situation of the global economy, infrastructure financing and opportunities under the Belt and Road Initiative.
Following that was a meeting with a delegation from Moody's Corporation led by its Managing Director of Global Sovereign Risk, Mr Alastair Wilson. Mr Tsang pointed out that while China's economy has been growing slower than before, it is still the major driving force of the global economy, contributing over a quarter of the world's current economic growth. The ongoing structural reform and the increasing purchasing power is transforming China gradually from an investment and export-led economy towards a consumption-driven one. This will create major opportunities for businesses in and services sector of Hong Kong.
Later at his meeting with Deputy Managing Director of the International Monetary Fund (IMF), Mr Zhang Tao, both sides exchanged their views on the global economic outlook as well as a number of uncertainties facing by the world economy.
Mr Tsang expressed his gratitude for the IMF's confidence in Hong Kong, referring to the IMF Staff Report released this January. The Report concludes that Hong Kong Government's proactive fiscal policy, robust regulatory regime for the financial system, and demand-side management measures for the property market has built up strong fiscal and financial buffers for Hong Kong to deal with near-term challenges, while laying the foundation for steady growth.
Tomorrow (October 9, New York time), Mr Tsang will continue his US tour in New York.
Ends/Sunday, October 9, 2016
Issued at HKT 6:03
Issued at HKT 6:03
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