HONG KONG, China, November 25, 2025 – The ASEAN+3 Macroeconomic Research Office (AMRO) this morning opened the 4th ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) in Hong Kong, China, co-organized this year with the Hong Kong Monetary Authority (HKMA) and the Bank for International Settlements (BIS).
Set against a global environment marked by shifting alignments and growing fragmentation, this Forum has gathered senior policymakers, economic experts, and thought leaders across the ASEAN+3 region and beyond to deliberate on how to safeguard financial stability, strengthen macro-financial resilience, and drive sustainable long-term prosperity. Under the theme Fragmentation to Resilience: Macro-financial Stability and Regional Integration in ASEAN+3, the event has called for deeper regional cooperation to navigate rising fragmentation and uncertainty.
AMRO Director/CEO Yasuto Watanabe opened the Forum alongside HKMA Chief Executive Eddie Yue and BIS Chief Representative for Asia and the Pacific Tao Zhang.
Mr. Watanabe said: “Amid global fragmentation, the architecture of interconnection needs to evolve. To anchor resilience, ASEAN+3 region must act together to strengthen integration, reinforce our financial frameworks, and ensure that the region remains adaptable, diversified, and capable of absorbing shocks.”
Mr. Yue of the HKMA said: “Through enhanced regional collaboration and integration, ASEAN+3 economies have strengthened their resilience to shocks amid a challenging external environment. I am confident that the discussions today—on macroeconomic risks, on the shifting global financial landscape, and on the priorities for cooperation—will yield valuable insights that will guide our collective efforts in the years to come.”
With a focus on issues facing Asian central banks, Mr. Zhang of the BIS highlighted that “close cooperation among central banks and between the public and private sectors, both within the region and beyond, is essential to withstand economic risks. Today’s forum provides a valuable opportunity for all of us to exchange insights, deepen common understanding, and collectively reflect on the region’s policy priorities,” he said.
The Forum program features two major sessions:
Session 1: Macroeconomic Risks and Regional Integration Amid Global Fragmentation
Keynote speakers are Heiwai Tang (Director, Asia Global Institute, The University of Hong Kong) and Barry Eichengreen (Distinguished Professor, University of California, Berkeley). They will lead into a panel moderated by Dong He (Chief Economist, AMRO) and featuring:
- Marzunisham Omar (Deputy Governor, Bank Negara Malaysia)
- Haibin Zhu (Executive Director (Research), HKMA)
- Chantavarn Sucharitakul (Chair, AMRO Advisory Panel)
- Johanna Chua (Managing Director, Head of Emerging Market Economics & Chief Asia Economist, Citigroup)
Session 2: The Changing Global Financial Landscape: Implications for Monetary and Financial Stability
Keynotes will be delivered by Julia Leung (Chief Executive Officer, Securities and Futures Commission) and Hyun Song Shin (Economic Adviser & Head of Monetary & Economic Department, BIS). This will be followed by a panel moderated by Daniel Rees (Head of Central Bank Cooperation, Monetary & Economic Department, BIS) and featuring:
- Zeno Ronald R. Abenoja (Deputy Governor, Bangko Sentral ng Pilipinas)
- Min Soo Kwon (Deputy Governor, Bank of Korea)
- Alicia Garcia-Herrero (Chief Economist for Asia-Pacific, Natixis)
- Arup Ghosh (Chief Rates Strategist, ASEAN & Korea, Standard Chartered Bank)
The 4th AMRO Forum runs alongside the ASEAN+3 Finance and Central Bank Deputies’ Meeting, reinforcing the Forum’s positioning as a vital touchstone for policy dialogue and regional cooperation.
AMRO extends its sincere appreciation to HKMA and BIS for their strong support and cooperation in delivering this successful event.
For those unable to attend in person, please visit here to watch the AMRO Forum online. Selected opening remarks and keynote speeches will be made available on the AMRO website after the event.
About AMRO
The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization established to contribute toward securing macroeconomic and financial stability of the ASEAN+3 region, comprising members of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan; and Korea. AMRO’s mandate is to conduct macroeconomic surveillance, support regional financial arrangements, and provide technical assistance to the members. In addition, AMRO also serves as a regional knowledge hub and provides support to ASEAN+3 financial cooperation.