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Supertrader Hong Kong. Plans were under way to start three new service sector directories dealing with infrastructure, telecommunications and transportation.
Finally, at the heart of the TDC's operations is its commitment to small and medium sized enterprises (SMEs), which account for 98 per cent of Hong Kong's trading companies. In 1997, the TDC expanded its efforts to help SMEs with initiatives such as strengthening the TDC Business InfoCentre (formerly TDC Business Library), refurbishing a virtual SME centre on the TDC website, converting TDC datashops located throughout Hong Kong into SME 'service stations' of information, publishing trade manuals and holding seminars.
The Hong Kong Export Credit Insurance Corporation
The Hong Kong Export Credit Insurance Corporation (ECIC) was created by statute in 1966 to provide insurance protection for Hong Kong exporters against non- payment risks arising from commercial and political events. Its capital is wholly- owned by the HKSARG, which also guarantees its maximum contingent liability, currently standing at $10 billion.
The corporation's mission is to encourage and support export trade through the provision of professional and customer-oriented services. It provides a wide range of insurance facilities to Hong Kong exporters of goods and services trading on credit terms with overseas buyers and clients for credit periods normally up to 180 days. The most popular facility is the Comprehensive Shipments Policy which covers export and re-export of goods from the date of shipment. The External Trade Shipments Policy, which covers the export of goods manufactured outside Hong Kong and delivered direct to the buyer, ranks second.
To improve on its existing services, the ECIC developed and launched in 1997 a new Comprehensive Cover Policy and a new Small and Medium Enterprises Policy which represent a more convenient package with simplified documentation and procedures. Medium- and long-term cover for credit periods up to five years or beyond for export of capital goods is also available.
To support the development of the service industry which has become predominant due to the structural change of the Hong Kong economy, the ECIC has developed various policies to meet the specific needs of different service sectors. The Freight Forwarding Services Policy and Advertising Services Policy are two such examples. The ECIC's total insured business in 1996-97 amounted to $20.11 billion, representing an increase of 14 per cent over that in 1995–96. Gross premium income grew 9 per cent to reach $108.39 million. Despite higher claims, the ECIC was able to achieve a surplus of $17.25 million for the year.
Internationally, the corporation continued to maintain close co-operation with members of the International Union of Credit and Investment Insurers (the Berne Union) through visits, meetings and workshops. The ECIC was honoured to be the first credit insurer in the world awarded the ISO 9002 certification during 1996–97.
Other Trade and Industrial Organisations
Various associations in Hong Kong represent the interests of industry and commerce. Among the larger and well established associations are the Federation of Hong Kong Industries, the Chinese Manufacturers' Association of Hong Kong, the Hong Kong