CONFIDENTIAL
073430 MDLIAN 894
3.
IT WAS AGREED THAT SECRETARIES WOULD PREPARE A DRAFT LETTER CONTAINING THE FORM OF FINANCIAL ASSURANCE THAT THEY WERE SEEKING FROM HONG KONG. I SUBSEQUENTLY AGREED WITH WEI THAT WE WOULD ALSO ASK FOR DRAFTS ON VISAS AND IMMUNITIES. THE SECRETARIES HOPED THAT MATTERS COULD BE SUBSTANTIALLY SETTLED IN THE MARGINS OF THE ANNUAL MEETINGS NEXT WEEK ALTHOUGH THEY APPRECIATED THAT WHATEVER WAS AGREED WOULD HAVE TO GO TO BEIJING AD REFERENDUM. THIS WOULD BE CONSISTENT WITH THE TIMETABLE OF PUTTING THE MATTER TO THE BOARDS OF DIRECTORS IN FIRST WEEK OF NOVEMBER.
4.
WEI SAID THAT HIS AUTHORITIES STILL FAVOURED THE JLG TO SETTLE THE WAY OF HANDLING THE HONG KONG LETTER. I REPEATED THAT WE THOUGHT IT BETTER TO HANDLE THIS MATTER IN WASHINGTON WHERE WE HAD ACCESS TO THE NECESSARY EXPERTISE ON BANK AND FUND.
5.
IN SUBSEQUENT BILATERAL DISCUSSION, WEI SAID THAT HIS AUTHORITIES FAVOURED A LETTER FROM THE HONG KONG GOVERNMENT TO THE UK AUTHORITIES ASKING THEM TO INFORM THE BANK AND FUND OF THEIR SUPPORT FOR THE INVITATION WHICH WOULD BE ANNEXED TO THE UK LETTER. I SAID THAT WE FAVOURED A LETTER FROM THE HONG KONG GOVERNMENT ADDRESSED TO THE BANK AND FUND CONVEYED BY THE UK AUTHORITIES AS AN ANNEX TO THEIR LETTER. WE AGREED TO CONSULT FURTHER.
COMMENT
6.
IF SUBSTANTIAL PROGRESS CAN BE MADE IN THE MARGINS OF THE ANNUAL MEETINGS THE NEED FOR REFERENCE TO THE JLG WILL FALL AWAY. THE SECRETARIES WILL PRESS FOR THIS. THEY WANT THE BOARDS TO MAKE A DECISION BY EARLY NOVEMBER.
7.
TO REACH A SPEEDY CONCLUSION ON THE POINT IN PARA 5, I WONDER WHETHER WE MIGHT ADOPT THE FORMULA OF A HONG KONG LETTER ADDRESSED TO THE UK GOVERNOR OF THE BANK AND FUND (I.E. THE CHANCELLOR) REQUESTING HIM TO CONVEY THE ASSURANCES OF THE HONG KONG GOVERNMENT TO THE BANK AND FUND. THIS LETTER COULD THEN BE ANNEXED TO THE UK LETTER SUPPORTING THE
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