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INDUSTRY AND TRADE
Fair in Chicago, the American Toy Fair in New York, the National Hardware Show in Chicago and the New York Premium Show, as well as a three-city 'Made In Hong Kong' exhibition. In Europe, the council participated in the International Toy Fair in Nuremberg, the INHORGENTA and the International Sports Equipment Fair in Munich, the Frankfurt International Spring Fair, and the Birmingham Spring Fair as well as mounting an exhibition of watches and jewellery to coincide with the Swiss Industries Fair in Basle. It also took part in the International Toy and Sporting Goods Toy Fair in Sydney.
A variety of Hong Kong business groups under the auspices of the council visited the Middle East, Japan and Australia to enhance old, or establish new, trade contacts. The council also received more than 140 inward missions from more than 35 countries, most notably from the United Kingdom, Japan, the Middle East, Austria, Australia, New Zealand, Mexico, Jamaica and China. The council sponsored several economic missions which help develop trade opportunities by strengthening high-level contacts with senior government officials, plus business and industrial leaders. These missions visited France, Sweden, Finland, Austria, Cyprus, the United Kingdom and the United States.
On the fashion front, Hong Kong designers' clothes were shown at a special fashion promotion in Tokyo and at the annual Prêt-à-Porter in Paris. To further promote exports of garments to Japan, the council organised an in-store garment promotion with leading chain stores in Japan. With the International Wool Secretariat, it jointly promoted the Hong Kong Wool Knitwear '84 Show in Hong Kong, primarily for Japanese buyers. Also in Hong Kong, the council organised the Hong Kong Toy and Gift Fair for the ninth year and acted as an advisor to the Hong Kong Electronics Fair and the second Hong Kong Watch and Clock Exhibition. All three were held in October.
The council produces five publications which are distributed to 173 countries. They are the Hong Kong Enterprise, a monthly general products magazine; Hong Kong Household, a new monthly featuring household and hardware products; the annual Hong Kong Toys; Hong Kong Apparel, a bi-annual fashion magazine which took top honours in the 1983 British Association of Industrial Editors awards competition; and the Hong Kong Trader which changed from a bi-monthly magazine into a monthly newspaper in July, giving news and views of the territory.
The Trade Enquiries Section of the council was fully computerised in 1983 and processed more than 100 000 overseas trade enquiries. The Research Department continued to publish special market surveys and detailed product reports, specifying opportunities in overseas markets for Hong Kong exports. The council expanded and up-graded its international network with the opening of an office in Miami to take better advantage of the economically fast-growing southeastern United States and the Caribbean. The London office moved to larger premises and has a computerised on-line trade enquiries system linked to the head office.
Hong Kong Export Credit Insurance Corporation
The government-owned Hong Kong Export Credit Insurance Corporation (ECIC) pro- vides protection for Hong Kong's manufacturers and traders against the possibility of non-payment for goods or services supplied abroad on credit terms.
Protection against country and buyer risks is provided by the ECIC at 90 per cent indemnity. Increasing use of the corporation's facilities continued during the year: more developing countries were suffering from a shortage of foreign exchange, while in developed countries where Hong Kong's major customers are found the incidence of bankruptcy grew considerably, reflected in a noticeable increase in claim payments. Due
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