3
Kong, the Chinese side welcomed it warmly as this
would be good for the
continued stability and prosperity of Hong
Hong Kong after 1997 and would
between UK and China in seeking to
demonstrate practical cooperation
ensure a smooth transition.
Responsibility of the host government
7.
The normal practice is for the host government to bear the local cost of hosting the Meetings. The Bank/Fund have a standard set of
facility requirements and Hong Kong as the
provide local logistics and facilities for
convention hall, meeting rooms,
accommodation
office
host city is expected to
the Meetings, including a
arrangements, offices for
furniture,
supplies
and
shuttle,
limousine
equipment,
and
There would also be entertainment
telecommunication facilities, and
delegations,
services.
the cost of which would inevitably fall on the host.
to
utilities,
transport
and social events, part of
8.
As regards formal invitation
host the 1997 Annual Meetings,
our discussions with the Bank/Fund, UK and China indicate that an
acceptable approach would be for the formal invitation to be made by China, with supporting letters from the UK and
and Hong Kong.
presentational advantage for Hong Kong to be associated with the invitation, even though Hong Kong is not a member of the Bank/Fund.
9.
There is
After Hong Kong has agreed that a formal application be made to hold the 1997 Annual Meetings in Hong Kong, the exact arrangement for making the formal application by China/UK/Hong Kong would
would need to be
worked out. A Bank/Fund team might need to make a joint inspection visit
to ensure the adequacy of the facilities. The Joint Secretariat of the
Bank/Fund would then require about six weeks to prepare a joint memorandum
to
the Boards of Governors. After a positive decision is
is made by the
Boards of Governors, the Bank/Fund would work with Hong Kong to draw up a
Memorandum of Understanding on the division of responsibilities to be
borne by the host.
10.
It is too early to prepare any reliable estimate of the cost of holding the 1997 Meetings in Hong Kong. It is expected that this will be