Hong Kong has been selected as one of seven candidate cities to host the International Olympic Committee Session in 2011, but tough competition is expected for the second highest-profile IOC event after the Olympic Games. The honorary secretary of the Sports Federation and Olympic Committee (SF&OC), Pang Chung, said yesterday they were preparing a bid document after receiving the go-ahead from the IOC. 'As far as I know seven cities are being considered by the IOC for the bid and Hong Kong is one of them,' Pang said. 'We will submit the bid next month, but have no information on whether the IOC will shortlist any of them to become the candidate city. 'Hong Kong is very keen to host the congress for the sake of the Olympic movement and the future of Hong Kong sports as it will be the biggest sport-related event Hong Kong has ever held should we win.' According to the procedures, the SF&OC, with the support of the government, will submit the bid by February 28 before starting lobbying. A presentation will then be made by all candidate cities in August at the Olympics when the IOC will announce the winning city. Ulan Bator (Mongolia), Cairo (Egypt), Durban (South Africa) and three other African cities are believed to be on the list. 'Mongolia is one of the fast-growing economies in Asia and Ulan Bator also bid for the East Asian Games in 2013, although they lost to another Chinese city, Tianjin,' said a source close to the government. 'Durban is one of the host cities of the 2010 football World Cup finals and are keen to continue hosting major sports events. 'But Hong Kong has long been a leading conference centre in Asia with top-class meeting facilities. We will also host the East Asian Games in 2009, and with these advantages, we are quite confident of the bid. 'We need financial backing from the government as the congress involves Olympic delegates from 200 countries, as well as top officials from all the international federations,' he said. 'Legco will meet next month to discuss the bid and I hope they will approve the required budget.' The government has sought the council's approval in principle of a budget ceiling of HK$200 million to support the SF&OC in hosting the event. The Home Affairs Panel will meet on February 15 to decide the amount they will support in the bid document. It is believed the budget has been cut down to between HK$100 million and HK$150 million, and it is likely the panel will support the bid and recommend the figure to the council's financial committee.