NEW YORK, Saturday, November 1, 1997, (International Herald Tribune) - President Jiang Zemin rang the bell at the New York Stock Exchange on Friday to signal a full day of New York activities that exposed the Chinese president to American capitalism's monuments, leaders and opportunities.

Brokers and clerks on the exchange floor mostly cheered, but there were some scattered boos for Mr. Jiang, who stood on a balcony overlooking the floor with officials of the exchange at his side. The balcony was draped with the flags of the United States and China.

Before the opening, Mr. Jiang shouted "good morning" to traders. After ringing the bell, he strolled briefly around the floor and then left for his next engagement of a busy schedule in which he spent most of the day with the business leaders.

"We are deeply gratified that he has chosen to come to the NYSE and ring the opening bell," said Richard Grasso, chairman of the exchange.

Mr. Grasso and the heads of such corporate and financial giants as Philip Morris, Ford and Goldman Sachs heard Mr. Jiang's top economic aides say that privatization was going forward in China.

"We are trying to build a safe and modern and efficient financial system," said Zeng Peiyan, deputy chairman of state planning.

Several groups, including Tibetan independence activists, protested Mr. Jiang's visit.

About 300 people demonstrated near the stock exchange building, waving the flag of Tibet and carrying banners denouncing China's policy against dissenters within the Communist system. Mr. Jiang has dismissed reports that China was repressing the people of the Himalayan enclave of Tibet, where a popular uprising was crushed in 1959.

Mr. Jiang's visit "is an indication of the corporate world and the free world at large just not caring about this issue," said Michele Pitcher, one of the protesters. But in Washington, Secretary of State Madeleine Albright named Gregory Craig as special coordinator for Tibetan issues Friday, a day after Mr. Jiang ended his visit to Washington. The appointment had been promised by Friday night. There was speculation that the announcement was delayed until the formal part of Mr. Jiang's state visit had ended. Mr. Craig is the director of policy planning at the State Department, a position he will continue to hold, James Rubin, the State Department spokesman, said Friday.

"What this job would entail is sensitizing all concerned about the issues of the people of Tibet and, if possible, promoting dialogue between the people of Tibet and the authorities in Beijing," Mr. Rubin said earlier in the week.

Mr. Jiang had breakfast with former President George Bush at the Waldorf-Astoria before going to Wall Street. Mr. Jiang and Mr. Bush, who was the chief U.S. representative in China during the 1970s, exchanged pleasantries and smiled broadly for photographers, with Mr. Bush telling him, "You look good."

But New York's top politicians steered clear of the visit. Mayor Rudolph Giuliani has "grave concerns about China's human rights policies," said Colleen Roche, a spokeswoman for the mayor.

While some critics blame the Chinese leadership for creating an atmosphere of repression, many U.S. business leaders say engaging China works better than isolating it. They say free-market forces have encouraged social reform. "The system has loosened substantially," said Richard Brecher, vice president of the U.S.-China Business Council. "Many see the rise in dissident voices as a product of rapid economic growth and economic reform."