Hong Kong is always a party town. The IMF/World Bank meeting can only add to its renown as the city that never stays sober. Delegates will be faced with over eight cocktail parties on Monday 22 September and at least 10 the next day. But which are the ones to be seen at?
The fun starts with Sunday's Euroclear bash - always favoured for its lavish food. Next stop will be the Goldman Sachs gathering in Hong Kong socialite David Tang's China Club, an excellent venue with its eclectic art collection and old Shanghai ambience. Monday's highlight is the Citicorp party in an air-conditioned marquee in the Hong Kong Park just outside the Tea Museum. Since most parties are in faceless hotel function-rooms this will be a little out of the ordinary and promises to be rather civilized. The competing soiree for the Arab Banking Corp in the Bankers Club might be just a little too civilized. Delegates at its party in Washington last year report that a wide choice of drinks was on offer: 12 different varieties of mineral water.
The problem will be getting cabs. The parties are spread over the Wanchai area, Central and beyond, and even getting between parties in close proximity could prove a 20-minute exercise for those who don't have drivers. "I doubt anyone will get to more than two or three parties in an evening," says one old Hong Kong hand who is accustomed to fitting in 10 in Washington.
The established Hong Kong houses are pushing the boat out: literally in HongkongBank's case - it is inviting its guests onto Fast Decisions, the bank's luxury yacht highly regarded for its curries.
Jardine Fleming is doing more than anyone else on the party front. It will have a cocktail party on the Monday evening in its splendid penthouse; on Tuesday it will hold the event of the meeting, a dinner with guest of honour George Bush at which the likes of Alan Greenspan are expected; and on Wednesday it's taking over the China Club. "We felt it was important to hold keynote events given the importance of the IMF's being in Hong Kong," says a spokesman.
Others have taken the opposite view. Merrill Lynch, Morgan Stanley and Peregrine are not holding bashes, just small, private gatherings for key clients. Some have the attitude that it's impossible to distinguish your party from all the others, so why bother?
ING Barings will stand out with its emerging markets awards dinner on the Wednesday evening, which will be stuffed with top chief executives from emerging market companies. BankBoston - which hopes to be a leading emerging markets bank - is taking a different approach. It will have different types of emerging market cuisine in each room - the logic being that those who like the food will end up talking about the country - hopefully with BankBoston employees.
The best party? Euromoney's own reception, of course, on Monday at noon in the Grand Hyatt to honour our finance minister and central banker of the year. Steven Irvine