The 37th International General Meeting (IGM) of the Pacific Basin Economic Council (PBEC) closed here Tuesday after announcing Hong Kong's HSBS chairman David Eldon as the new PBEC chairman and Hong Kong as venue for the 38thIGM in June next year.

Eldon took the helm of PBEC from S.R. Cho, chairman of Hyosung Group of the Republic of Korea. Cho is now honorary chairman of PBEC.

Eldon pledged he would push forward reform of PBEC to make it more relevant to business communities and attain more strength.

Established in 1967, PBEC is an important nonofficial economic organization in the Pacific region representing more than 1,000 companies in 20 economies. The China Council for the Promotion of International Trade joined the organization on behalf of China in 1994.

Source: Xinhua