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INDUSTRY AND TRADE
A variety of Hong Kong business groups under the auspices of the council visited the United States, Europe, China and the Middle East and Japan to enhance old, or establish new, trade contacts. The council also received more than 200 inward missions from more than 30 countries, notably from the United Kingdom, the United States, Japan, China, the Federal Republic of Germany, France, Australia, Canada and Sweden.
To further promote exports to Japan, the council organised another in-store garment promotion with AIC Inc in leading chain stores throughout the country and a major garment exhibition in both Tokyo and Osaka. In Hong Kong, the council staged the Casual Apparel Show and organised its 11th Hong Kong Toy and Gift Fair, as well as sponsoring the Hong Kong Electronics Fair and acting as an adviser to the Hong Kong Watch and Clock Fair and the Hong Kong International Fur Fair.
The council produces two product magazines, a fashion magazine and a newspaper on general circulation to 170 countries. They are Hong Kong Enterprise, a monthly general products magazine; the annual Hong Kong Toys, published each October to coincide with the Hong Kong Toy and Gift Fair; Hong Kong Apparel, a biannual fashion magazine, and the Hong Kong Trader, a monthly newspaper (sent airmail) giving news and views of the territory. The council also publishes three specialised trade magazines Hong Kong Jewellery and Watches (an annual); Hong Kong Electronics and Hong Kong Household (both biannuals) - which are distributed at trade fairs throughout the world. A guidebook, Hong Kong For The Business Visitor, is published annually in seven languages (English, Chinese, French, German, Italian, Spanish and Japanese).
The computerised Trade Enquiries Service of the council 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.
Construction work is proceeding on the Hong Kong Convention and Exhibition Centre and supporting facilities including two hotels and a 33-storey office/trade mart tower. The government provided the 2.96 hectare site on the Wan Chai waterfront through a private treaty grant, free of premium. The portion of the development to be retained by the council will ultimately comprise around 73 000 square metres, and will include two 9 100 square metre exhibition halls, a 2 600 square metre conference/convention hall, two auditoria seating 700 and 360 respectively, plus a variety of smaller function rooms.
Hong Kong Export Credit Insurance Corporation
The Hong Kong Export Credit Insurance Corporation (ECIC) is a statutory corporation established in 1966 to issue insurance contracts which protect exporters and manufacturing exporters against risks of monetary loss arising from non-payment by their overseas buyers for goods and services supplied on credit. The ECIC is autonomous in its day-to-day operations with major formulation and changes in policy being subject to the approval of the Financial Secretary. Its capital of $20 million is provided by the government which also guarantees the corporation's underwriting liabilities up to $4,200 million. The corporation, which is required to operate commercially, is assisted in the conduct of its business by a 12-member advisory board.
As a member of the International Union of Credit and Investment Insurers (the Berne Union), the corporation has regular access to confidential and updated economic and marketing information on all major trading countries.
The primary function of the corporation is to improve the competitiveness of Hong Kong's exports, by protecting policy-holders against losses arising from those risks not