David Eldon, Chairman of the Hongkong & Shanghai Banking Corporation Limited, was elected Chairman of the Hong Kong General Chamber of Commerce (HKGCC) for the coming year, according to a press release from the HKGCC Tuesday.

Eldon was HKGCC Deputy Chairman in the past two years.

The election was held at the inaugural meeting of the new General Committee immediately after the HKGCC's Annual General Meeting Tuesday evening.

Anthony Nightingale, Chairman in the past two years who is alsoChairman of Jardine Pacific Limited, stepped down after the meeting.

Succeeding Eldon as Deputy Chairman is Lily Chiang, Chairman ofEco-Tek Holdings Ltd.

Founded in 1861, HKGCC is the leading chamber of commerce in Hong Kong with over 4,000 corporate members, including transnational companies, HK companies and Chinese mainland funded ventures.