CONFIDENTIAL
FM FCO
TO IMMEDIATE SINGAPORE TELNO 89
OF 20160OZ MARCH 92
CONFIDENTIAL
HKCC 031/9
нкс
la
ст
23/3
INFO IMMEDIATE HONG KONG, UKDEL IMF/IBRD WASHINGTON INFO IMMEDIATE UKREP JLG HONG KONG, PEKING
23
013626
MDHOAN 1766
YOUR TELNO 115: IMF/IBRD 1997 ANNUAL MEETINGS
1. TUR ASKED FOR GUIDANCE ON THE STATE OF PLAY OF HONG KONG'S BID TO HOST THE 1997 IMF/IBRD ANNUAL MEETINGS. SUBJECT TO ANY COMMENTS FROM HONG KONG, WE SUGGEST YOU TAKE THE FOLLOWING LINE:
- HONG KONG CONTINUE TO SEE CONSIDERABLE ATTRACTIONS IN HOLDING THESE PRESTIGIOUS FINANCIAL MEETINGS IN HONG KONG IN 1997.
BUT CLEARLY IMPORTANT THAT HONG KONG EXAMINE CAREFULLY BOTH THE FEASIBILITY OF HOLDING THE CONFERENCE AND THE POTENTIAL COSTS BEFORE PUTTING IN A FIRM BID.
ISSUES ARE UNDER ACTIVE CONSIDERATION AND HONG KONG EXPECT TO MAKE FORMAL APPROACHES SOON.
2. FOR YOUR OWN INFORMATION YOU SHOULD KNOW THAT THE PRIME HONG KONG CONCERN IS TO ENSURE THAT HONG KONG IS SEEN IN AN APPROPRIATE LIGHT AS A RESULT OF THESE MEETINGS. IT WOULD, OBVIOUSLY, DO HONG KONG'S FINANCIAL AUTONOMY NO GOOD IF THE CHINESE WERE TO HIJACK THE MEETING. WE ARE THEREFORE IN TOUCH WITH THE CHINESE TO TRY TO SECURE A FIRM UNDERSTANDING THAT HONG KONG'S POSITION WILL BE GIVEN DUE PROMINENCE. THERE IS A USEFUL PRECEDENT FOR THIS WHEN THE IMF/IBRD MEETING WAS HELD IN BERLIN.
3.
HONG KONG ARE ALSO CONCERNED ABOUT THE POTENTIAL COSTS OF HOLDING THE MEETING. ASSUMING THAT NO NEW MAJOR PHYSICAL FACILITIES ARE REQUIRED, IT LOOKS AS IF THE COSTS SHOULD NOT BE TOO ONEROUS BUT THIS OF COURSE IF A MATTER FOR THE HONG KONG GOVERNMENT AND THE LEGISLATIVE COUNCIL TO CONSIDER.
4. IT WILL CLEARLY BE IMPORTANT TO AVOID GIVING THE
SINGAPORIANS ANY REASON TO THINK THAT THERE MAY BE A WINDOW OF OPPORTUNITY FOR THEM IN 1997.
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