Taiwan Finance Minister Attends APEC Meeting to Promote Digital Finance

Taiwan's Ministry of Finance announced today that Minister of Finance Chuang Tsui-yun, along with Financial Supervisory Commission Vice Chairperson Chen Yen-liang and other financial officials, will travel to Hong Kong from October 19 to 21 to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministerial Meeting. This trip is an important initiative by Taiwan to continuously promote economic growth and financial innovation on international multilateral platforms. The APEC meetings focus on regional economic integration, trade liberalization, and financial market development, and Taiwan is able to contribute practical experience and enhance its visibility in global economic governance.

Since joining APEC in the 1990s, Taiwan has centered its participation on the "Taiwan Model," actively engaging in various meetings and sharing its achievements in digital finance, fintech innovation, and financial market opening. In recent years, through the "Fintech Innovation Experimentation Laboratory" and "Digital Finance Innovation Project," Taiwan has promoted the digitalization of financial services, the facilitation of cross-border payments, and the application of blockchain technology, securing a prominent position in Asia's fintech sector. Minister Chuang will lead the delegation to explain to APEC member economies how Taiwan maintains fiscal soundness while stimulating domestic demand and enhancing competitiveness through innovative policies.

This meeting is also an optimal opportunity for Taiwan to demonstrate its "sound fiscal management" to the international community. In recent years, amid the COVID-19 pandemic and global supply chain fluctuations, Taiwan has successfully avoided major fiscal risks through flexible fiscal stimulus and reserve management. Minister Chuang will share Taiwan's experience in public financial management, debt sustainability assessment, and the enhancement of fiscal transparency, hoping to provide a referenceable policy model for other member economies. This will not only elevate Taiwan's voice in international financial governance but also further consolidate Taiwan's influence in the regional economy.

Regarding digital finance innovation, Taiwan has launched multiple policies to promote the growth of the fintech ecosystem, including the establishment of the fintech innovation laboratory, the promotion of cross-border payment platforms, and the refinement of regulations for digital asset trading markets. Minister Chuang will elaborate on Taiwan's innovative achievements in the digital finance sector during the meeting and discuss how to cooperate with APEC member economies to jointly promote fintech standardization and the convenience of cross-border financial services. This move will not only enhance Taiwan's competitiveness in the global fintech sector but also help Taiwanese enterprises expand their businesses in international markets.

Finally, Taiwan's participation in the APEC meetings is also a testament to the international community's support and recognition of Taiwan's involvement in global governance. Although Taiwan is not listed as a formal member, it continues to make its voice heard on multilateral platforms through "informal participation" and contributes substantive recommendations for regional economic cooperation. Chuang Tsui-yun and her team's trip to Hong Kong will further consolidate Taiwan's influence within the APEC framework and strive for a greater say for Taiwan in global economic governance.