The key facts
- APEC finance ministers adopted a joint statement and a document on financing digital infrastructure
- Lan Foan called for unlocking AI's potential to boost productivity
- The APEC leaders' summit is scheduled for November 18–19 in Shenzhen
Outcomes of the Hong Kong meeting
APEC finance ministers concluded a two-day meeting in Hong Kong. According to Hong Kong's public broadcaster RTHK, Chinese Finance Minister Lan Foan described the outcomes as 'practical': participants adopted a joint statement and a document on the policy of financing digital infrastructure.
Call to use AI
Lan Foan stated that the region's economies should 'fully unlock the potential of new technologies, such as AI' to raise productivity and create new drivers of growth. According to him, participants agreed to strengthen macroeconomic coordination, enhance financial resilience, and encourage private investment in digital infrastructure. Household consumer spending and domestic demand were named as a separate priority for sustainable growth.
Context of the AI dispute
The statements came amid growing disagreements between Washington and Beijing over AI regulation. As Anadolu notes, Anthropic CEO Dario Amodei recently called for slowing the development of increasingly powerful AI models, warning that technological progress may outpace safety measures; his proposal was supported in certain aspects by OpenAI CEO Sam Altman and Google DeepMind head Demis Hassabis. US President Donald Trump rejected calls for a slowdown, stating that preserving America's technological leadership over China is essential. Beijing, in turn, criticizes proposals that could limit China's technological development and advocates for an open and inclusive international AI governance system.
Next steps
The APEC leaders' summit is scheduled for November 18–19 in Shenzhen (China).
