PBEC to move international headquarters to Hong Kong

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Last updated at: (Beijing Time) Monday, October 20, 2003

PBEC to move international headquarters to Hong Kong

The Pacific Basin Economic Council (PBEC) announced Sunday its decision to move its international headquarters to Hong Kong from Honolulu by the end of 2003.

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The Pacific Basin Economic Council (PBEC) announced Sunday its decision to move its international headquarters to Hong Kong from Honolulu by the end of 2003.

PBEC is the largest independent business association in the Asia-Pacific region, with member committees spanning 20 economies in the area, including China's Hong Kong, Chinese mainland, Japan, the United States and Australia.

Among PBEC Hong Kong members are HSBC, CLP Holdings, Dragonair, Esquel Group and Shun Tak Holdings Ltd.

In a relevant development, PBEC has appointed on Sept. 15 Hong Kong resident Arthur L. Kobler as its new president.

Kobler had been president of AT&T China until July 2003. His appointment with PBEC became effective on Sept. 1.

PBEC Vice Chairman and PBEC Hong Kong Chairman David Eldon, whois also HSBC chairman, said the decision will strengthen Hong Kong's position as an international trade and financial hub.

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