World superstore giant Wal-Mart Stores Inc announced in Hong Kong Wednesday the establishment of its new Asia regional headquarters in Hong Kong Special Administrative Region.

President and Chief Executive Officer for Wal-Mart Asia Vicente Trius said the Hong Kong regional headquarters will have strategic responsibilities for managing the company's current operations in Asia and for business development.

The new Wal-Mart office in Hong Kong will oversee the company's operations in the Chinese mainland, India and Japan, as well as identify new business opportunities for the company throughout Asia, Trius said.

"Hong Kong is the perfect location from which to operate a regional headquarters for Asia, as it is centrally located and offers ready access to markets across the region," Trius said.

Director-General of Investment Promotion at InvestHK Mike Rowse welcomed Wal-Mart's decision to choose Hong Kong from among other cities in Asia, saying Wal-Mart's establishment of regional headquarters in Hong Kong represents a powerful vote of confidence in Hong Kong as the preferred location for leading global companies to manage their business in the Chinese mainland and elsewhere in Asia.

Over the years, Hong Kong has been the most popular location in Asia for companies from around the world to establish a regional hub. Some 3,900 overseas and Chinese mainland companies operate regional headquarters or regional offices in Hong Kong, according to InvestHK.

Wal-Mart Asia's Vice President Brian Walker said Wal-Mart is able to recruit the right local staff for its regional headquarters with the city's abundant pool of talents and professionals, together with its excellent transportation, communications and technology infrastructure.

(Xinhua News Agency September 4, 2008)