HONG KONG MONETARY AUTHORITY Annual Report 1996
HONG KONG MONETARY AUTHORITY
WORLD BANK/IMF ANNUAL MEETINGS
The decision by the World Bank/lMF to hold their 1997 Annual Meetings in Hong Kong represented a significant vote of confidence of the international financial community towards the continued success of Hong Kong as a leading international financial centre. The HKMA is responsible for the co-ordination of all local planning and implementation work for the Meetings.
Preparations for the Meetings have entered their final phase. Under the guidance of the Steering Committee chaired by the Financial Secretary, the HKMA has made good progress in the planning work.
The sponsorship drive, which started in 1995, resulted in cash sponsorship of $45 mn, while sponsorship in kind produced an estimated $25 mn. These will help to reduce public expenditure.
The Hong Kong Convention and Exhibition Centre and its new Extension, which is scheduled for completion in June 1997, will be the venue for the Meetings. The New World Group, the management for the Centre and its Extension, have agreed to provide the necessary office and meeting facilities at a concessionary fee, while other necessary furniture and equipment items, including limousine services, have been obtained through sponsorship, rental or purchase agreements. A consultant will help provide hotel booking services for visitors as well as shuttle bus services for all participants.