APEC meeting expected to bring opportunities to local businesses

The APEC Finance Ministers' Meeting is expected to draw around 500 attendees to Hong Kong, boosting local tourism and the economy. With hotel occupancy in the city centre reaching nearly 100%, a lawmaker noted business representatives also see the meeting as an opportunity to lay the groundwork for upcoming trade talks next month.

Alongside ministers and delegates from 21 APEC economies, the two-day Finance Ministers' Meeting is also bringing in family members and business delegations. Alan Chan, Chief Operations Officer of Miramar Group, said the influx of visitors has boosted hotel occupancy in key commercial districts to nearly 100 percent, with room rates ranging from 1,600 to over 2,000 Hong Kong dollars per night. Some guests are even extending their stay by a few days to visit local attractions.

Beyond leisure travel, a lawmaker also noted that foreign delegates are taking advantage of their time in Hong Kong to connect with local enterprises, laying the groundwork for further negotiations and finalizing deals at next month's summit in Shenzhen.

Legco member Jonathan Lamport says, "They choose Hong Kong to start the meeting first is more like a well prepared meetings for a solid concrete discussion in Shenzhen, so this actually could really help Hong Kong to show to the international actually how Hong Kong can support motherland."

"Hong Kong have common law and it helps a lot, especially in the what we call soft power and the professional services, and like such as arbitration, such as legal services or account services."

After the meeting, cultural tours and site visits will be arranged to showcase the city to visiting guests.