Sichuan backs Hong Kong HQs

In another boost for the newly mapped out pan-Pearl delta economy, Sichuan officials urged local companies to establish their headquarters in Hong Kong. Vice-Governor Jiang Jufeng said the SAR had the potential to become a headquarters economy for the new regional framework that groups together Hong Kong, Macao and eight provinces and Guangxi Zhuang Autonomous Region. Cui Guangyi, vice-secretary-general of the province, said authorities would encourage companies to use Hong Kong as a springboard to global markets. Two candidates for such a move, officials said, are Panzhihua Iron and Steel and electronics maker Chang Hong.