23-ANG-1993
14:33
Economic Pelations FCO
Mr Kalen
IF1
HMT
DRAFT
071 278 3443
Fax to Bridget Paris, HKD
Grateful for dearance
asap.
Chall
X2675
27/8.
1993 IMF/WORLD BANK ANNUAL MEETINGS BRIEFING: 1997 ANNUAL MEETINGS
1"
Thank you for showing us your draft brief on the Hong Kong 1997 Meetings proposal. We have the following comments:
- Line to take: (third tiret) "Holding Annual Meetings in Hong Kong shortly after reversion of sovereignty to China should help reinforce the confidence in Hong Kong's position
The wording in your as an international financial centre." draft seemed too defensive.
"Some
Firstly,
Background: para 3 to be redrafted as follows: politically difficult details remain to be settled. the issue of invitations. In addition to the formal invitations from the Chinese, we attach importance to issuing supporting letters from Hong Kong and the UK. We are resisting Chinese attempts to go back on our earlier understanding on this. `Secondly, the World Bank and IMF suggest that UK and China, as members of the institution,
We are seeking to persuade should give financial guarantees.
the institutions that this is not necessary, given the financial strength of Hong Kong, and Hong Kong's legal powers to enter into such commitments. Thirdly, there is a debate over who should issue the necessary visas and immunities. These questions are being discussed at official level between the UK, China and the institutions. Our objective is to defer further detailed consideration of them until after the annual meetings."
autonamy from the United kingdan Saremment in the
financial
Caroline H Hall
field.
Economic Relations Department
WH423
270-2675
23 August 1993
cc: Mr Seddon
Since Hong
Kong will be paying for the event, they
should be associated with
The invitation.
1
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