Statement by the Secretary for Trade and Industry in the Legislative Council on 9 January 1985
Hong Kong Export Credit Insurance Corporation
Sir,
In accordance with section 28 of
the Hong Kong Export Credit Insurance Corporation
Ordinance the Report and Accounts of the
Corporation for 1983/84 are tabled today.
2.
In 1983/84 there was moderate growth
in the Corporation's business, with a net increase
of 133 policies issued bringing the total to
1 490; a respectable increase in the value of total
insured exports, which grew by about 20% to
$4 693 million; and an equally respectable increase
in premium income, which grew by about 26% to
$26.3 million. As in previous years insured exports
represented a little over 4% of Hong Kong's domestic
exports. Europe remained the Corporation's largest
exposure area. Insured exports to European markets,
which accounted for $2 778 million or 60% of total
insured exports, grew by 13%. Insured exports to
North America, which accounted for $994 million or
21% of total insured exports, registered a healthy
/growth