State Treasurer Fiona Ma Reflects on APEC Experience
SACRAMENTO – Treasurer Fiona Ma released the following comments, reflecting on her APEC experience:
San Francisco is privileged to serve as the Host City for the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week 2023, centered around the theme “Creating a Resilient and Sustainable Future for All.”
Since its inception in 1989 with 12 members, APEC has evolved to encompass 21 member economies, including Australia, Brunei Darussalam, Canada, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and the United States.
Hosting APEC in San Francisco allows us to showcase the beauty of our city, and each of the 21 APEC members maintains a relationship or presence here.
I am honored to be appointed by San Francisco Mayor London Breed as an Asia-Pacific Economic Cooperation (APEC) Honorary Host Committee member alongside esteemed individuals such as Speaker Emerita Nancy Pelosi, Governor Gavin Newsom, Lieutenant Governor Eleni Kounalakis, U.S. Senator Dianne Feinstein, U.S Senator Alex Padilla, City Attorney David Chiu, and Dominic Ng, Chairman and CEO of East West Bank and Chair of the APEC Business Advisory Council.
Last night, I had the privilege of meeting China President Xi before his official dinner at the Hyatt Regency SOMA in San Francisco. His presence at APEC underscores the significant bilateral relationship between the US and China, particularly between California and China.
Our world is more connected than we think. As the first and second world economies, the US and China, along with California as a significant entity, must collaborate, cooperate, and communicate effectively to build trust and prevent conflicts. I am pleased to observe the APEC world leaders and speakers focusing on Innovation, Resilience, Sustainability, and Stability for our regions and the world.
Fiona Ma is California’s 34th State Treasurer. She was first elected on November 6, 2018, with more votes (7,825,587) than any other candidate for treasurer in the state’s history and re elected on November 8, 2022. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Presently, her office processes more than $3 trillion in banking transactions. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio that currently averages over $200 billion—a significant portion of which is beneficially owned by more than 2,200 local governments in California. She serves as agent of sale for all State bonds and is trustee of billions of dollars of state indebtedness.