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Press Releases

Preparations for World Bank/IMF Annual Meetings go smoothly

Preparations for the World Bank Group/International Monetary Fund (IMF) Annual Meetings have entered the final phase, announces the Hong Kong Monetary Authority (HKMA) today (Monday).

Speaking at a press briefing today, Mr James Lau, Executive Director (External Department) of HKMA said, "Between 15 and 25 September 1997, some 14,000 participants will be attending the World Bank Group/IMF Annual Meetings to be held in Hong Kong." He remarked that this prestigious event will enhance Hong Kong's profile as a world-class international financial centre.

The Annual Meetings will attract over 300 finance ministers and central bank governors, together with around 4,000 government officials from the 181 member countries of the World Bank Group and IMF. This annual event is a convention of the international financial community to discuss issues facing world economies and the international monetary system.

In addition, it is expected that some 5,000 private sector bankers and senior representatives from relevant interested organisations and about 2,000 local and international media representatives will be attending the Annual Meetings.

HKMA has been entrusted with the complex task of co-ordinating the local organisation work for the Annual Meetings. The Financial Secretary, Mr Donald Tsang, chairs a Steering Committee to give policy guidance to the planning work while Mr Lau chairs an Organising Committee which is responsible for inter-departmental coordination and overseeing of the planning work.

Within HKMA, the Planning Division is responsible for arranging venue facilities, communication system, hotel accommodation, transportation, security, airport reception, registration, social events, cultural programmes, etc.

"For instance, in conjunction with the Transport Department and the Hong Kong Police Force, we are working out traffic and transportation plans for the Annual Meetings' period," said Mr Lau. As regards hotel accommodation for overseas participants, arrangements have been made with hotel management a couple of years ago to reserve some 6,000 hotel rooms for the participants.

"Drawing from the experience gained in the planning for the Handover Ceremony, we will keep on evaluating our preparation to ensure the smooth operation of the entire Annual Meetings," Mr Stephen Ng, Head (Planning Division, External Department) of HKMA said at the press briefing.

Turning to the Meetings venue, Mr Lau said, "The Hong Kong Convention and Exhibition Centre (HKCEC) together with the new Extension will provide a modern, well-equipped, as well as an efficient business-like working environment for all the delegates."

To complement the meeting room facilities in the HKCEC, over 900 temporary offices will be constructed in the HKCEC for the delegates and for the staff of the World Bank Group and the IMF and state-of-the-art convention facilities and other services will be provided, Mr Lau noted. These facilities are provided according to the requirements of the World Bank Group and IMF.

The Annual Meetings will officially commence on 23 September 1997. Senior Chinese leaders and the Chief Executive of Hong Kong Special Administrative Region will speak at the Opening Ceremonies. Other major meetings, such as the Interim Committee meeting and Development Committee meeting, will start in the week before.

It will be a very busy period during which many official and other meetings will be held. In addition, there will be a large number of informative business conferences and seminars during this period. These seminars are organised by the World bank Group, IMF and also private sector institutions to promote understanding and exchange of views on topical economic and financial issues.

Also attending today's press briefing are Mr Mak Kwok-wah, Acting Deputy Director of Information Services (Public Relations), Mr Niels Kraunsoe, Chief Executive of the HKCEC and Extension Project, Hong Kong Trade Development Council and Mr Cliff Wallace, Managing Director of HKCEC.

Hong Kong Monetary Authority
21 July 1997

Last revision date: 1 August 2011
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