Representatives from the Hong Kong Association of Banks and Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong are planning a second trip to Beijing after the Lunar New Year. Association chairman Liu Jinbao said the trip would allow the bankers to meet mainland authorities to seek clarification of the debt repayment process of Guangdong International Trust & Investment Corp (Gitic) which collapsed last year. 'The bankers would also like to seek clarification on how to handle the debt problems of the 240 international trust and investment corporations (Itics),' he said. The latest visit to Beijing will closely follow discussions held in November, when the delegation met People's Bank of China governor Dai Xianglong about the Gitic problem. Mr Liu said the association had planned to visit Beijing earlier this year but Mr Dai was unavailable until after the Lunar New Year. Referring to the recent rise in interbank interest rates, he said this was due mainly to seasonal factors and unwillingness by commercial banks to lend money in the run up to the holiday. Meanwhile, the association yesterday decided not to adjust domestic interest rates on deposits as the Brazilian crisis had not completely passed and the United States had not revised interest rates, Mr Liu said. He said the association would assess the market situation after the Lunar New Year before deciding whether to cut interest rates further. Although Shandong International Power Development was the third company this year to postpone its initial public offering (IPO), Mr Liu said this was not a reflection of a lack of interest by investors in mainland companies. He pointed to the successful initial public offering by mainland-based Eagle Brand Holdings in Singapore last month. Eagle Brand is a tile-maker and manufacturer of sanitary ware. The issue raised about US$33.2 million.