Challenges and Opportunities for Asia-Pacific Regional Economic Cooperation in the

While efforts are made to ensure that the views of the PECC members are taken into account, the opinions and the facts contained in this report are the sole responsibility of the authors and do not necessarily reflect those of the member committees of PECC, nor their individual members. [...] In the past three years, the Asia Pacific region has experienced the severe impact of the COVID-19, including economic growth slowing down, and even the first negative growth in decades. [...] APFF is an essential platform for public-private dialogue and cooperation in the financial sector under the APEC framework, aiming to promote the development of sound and integrated financial markets and services, and promote healthy and sustainable development of the financial sector. [...] It covers key areas of financial markets that are critical to the development of economic and financial services in the Asia-Pacific region, including credit infrastructure, trade and supply chain finance, insurance and retirement income, capital markets, and financial market infrastructure, to accelerate the development of robust and integrated financial markets in the APEC region. [...] 1.2 The main contents of APEC financial cooperation Since APEC financial cooperation is mainly carried out under the Finance Ministers Meeting Mechanism (FMP) framework and promoted by the Finance Ministers Meeting (FMM), the achievements of the Committees, Working Groups and Forums are reflected in the joint statement of the FMM.