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INDUSTRY AND TRADE
credit. With the introduction of guarantees for longer terms the statutory limit of $1,250 million set in 1973 proved insufficient and in November 1974 the government's statutory guarantee of the corporation's liabilities was increased to $1,750 million. In July 1975, the Legislative Council resolved to increase the maximum percentage of indemnity granted by the corporation from 85 per cent to 90 per cent. This higher percentage of indemnity is being gradually introduced to all policyholders in the hope that it will aid them in their export endeavours.
The corporation is assisted in its business by an advisory board consisting of 12 members occupying leading positions in the government and in the banking, manufacturing and exporting communities of Hong Kong. As a member of the international association of export credit insurers, known as the Berne Union, the corporation has regular access to specialised economic and marketing information on all countries in the world. It maintains close links with fellow credit insurers of other major trading countries.
The corporation works in close consultation with Hong Kong's banks, the Trade Development Council, the Commerce and Industry Department, the Hong Kong General Chamber of Commerce, the Trade Facilitation Committee, the Hong Kong Exporters' Association, and other commercial organisations-involved in promoting Hong Kong's exports.
Hong Kong Productivity Council
The Hong Kong Productivity Council was established by statute in 1967 to promote increased productivity in industry and to encourage the more efficient use of resources. The council comprises a chairman and 20 members, all appointed by the Governor. Fourteen members represent management, labour, academic and professional interests, while the other six members represent government departments closely associated with productivity matters.
The Hong Kong Productivity Centre, formally established in 1967, is the execu- tive arm of the council. The centre conducts industrial training courses in productivity techniques; provides consultancy services and technical assistance to industry; organises overseas study missions; provides fellowships for more advanced training of individuals; publishes a monthly bulletin and technical reports; undertakes economic research projects in industry; and collects and disseminates information relating to productivity.
The centre operates in three premises in Central District, Kwun Tong and Mong Kok. Facilities include eight lecture rooms, a low-cost automation unit, an industrial chemical laboratory, an audio-visual unit, a technical reference library, and electronic processing facilities.
In recognition of the need for Hong Kong to diversify into more sophisticated product lines and the technically advanced industries, considerable emphasis has been placed on industrial technology in the field of technical assistance and in training. During 1975 the centre conducted 220 training courses, undertook more than 100 industrial and technology projects, and organised two study missions to Japan. The centre intensified its efforts for the promotion of improved mechanisation.