HK to host WB, IMF meet

HK to host WB, IMF meet

HONG KONG (AFP): The Hong Kong government welcomed yesterday
the decision by the World Bank and International Monetary Fund
(IMF) to hold their general meetings here after China takes over
sovereignty in July 1997.

Reacting to a decision by the World Bank and IMF boards of
governors late Monday to hold their 1997 general meetings in Hong
Kong from Sept. 23-25, 1997, acting Financial Secretary Donald
Tsang said, "The decision is itself a boost of confidence in the
territory."

He said the holding of such "prestigious" events in Hong Kong,
soon after the transfer of sovereignty was of "significance" to
the territory, adding that "it will be a timely affirmation of
Hong Kong's continuing status as an international financial
center after 1997."