SENIOR Chinese and Hong Kong monetary officials took part in an unprecedented meeting on the linked exchange rate policy in the territory yesterday.
The closed-door meeting, which also involved senior bankers, highlighted ambiguities in the Government's policy of banning officials from participating in 'formal meetings' of the Preliminary Working Committee (PWC).
Deputy chief executive of the Hong Kong Monetary Authority (HKMA), Andrew Sheng Len-tao, delivered a seven-page speech to the meeting.
Mr Sheng became the first member of the Government's executive-arm to attend a PWC meeting after the Chief Secretary, Anson Chan Fang On-sang, issued a set of guidelines early this month.
Under the guidelines, civil servants should not take part in formal meetings of the PWC.
A HKMA spokesman said Mr Sheng's presence at the seminar did not violate any of the guidelines because the meeting was an 'informal' one.
The meeting was attended by 12 PWC members and 15 local banking and financial leaders including the Hongkong Bank's chief financial officer, Vincent Cheng Hoi-chuen, and the head of Citibank's country corporate office, Anthony Leung Kam-chung.