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The Financial Secretary, Mr John C Tsang, this morning (August 2) met the President of the World Bank, Mr Robert Zoellick, at the margins of the APEC Financial Ministers' meeting in Coolum, Australia. Mr Tsang said during the meeting that Hong Kong welcomed the decision of the International Finance Corporation, a World Bank associated institution, to expand its Hong Kong office into the Asia hub. He also welcomed the World Bank's plan to launch the Global Fund for Emerging Market Local Currencies (GEMLOC). Mr Tsang and Mr Zoellick also exchanged views on the future of Renminbi bonds issue in Hong Kong.
 
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