Financial Secretary Paul Chan is in Milan, Italy, attending events related to the 58th Annual Meeting of the Asian Development Bank (ADB).

In a gathering on Sunday, the government said in a statement that Chan welcomed the ADB's strengthened support for developing countries in addressing climate change, developing the private sector, promoting regional co-operation and digital transformation.

The statement said the main topics of discussion included navigating current economic risks and uncertainties in the region, optimising resources to better assist low- and middle-income countries, and providing technical assistance to member countries.

Chan noted that, as an international financial centre, Hong Kong was willing to continue sharing knowledge and experiences with other members in areas such as establishing capital markets, promoting green transition and green finance development, and infrastructure financing.

Chan also met with Rachel Thompson, the Director representing Hong Kong on the ADB Board of Directors, to discuss how the SAR could better assist the ADB in the issuance of insurance-linked securities, including catastrophe bonds.