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COMMERCE AND INDUSTRY
also promoted Hong Kong as a professional service centre, trade services platform and partner for Mainland businesses seeking global opportunities as well as for overseas firms targeting the Mainland market. It also emphasised the combined strengths of Hong Kong and the Pearl River Delta which overseas manufacturers could tap into for locating their production facilities in the Mainland.
The TDC sought to enhance and promote the competitive advantages of Hong Kong's SMEs through a wide range of business matching and information support services, as well as more than 140 business training seminars and workshops for SMEs. Its Internet trade portal provides a cyber marketplace for comprehensive trade information, e-commerce facilities and other value-added services, most of which are available free of charge. The portal has been significantly enhanced with the launch of a multimedia broadcast platform to provide timely market information in concise audio and video clips, as well as portal interfaces for non-English speaking overseas buyers.
In addition, the TDC maintained a global databank of about 600 000 business contacts, which has been useful to users world-wide for the purposes of sourcing and finding business partners. During the year, the TDC further liberalised the access by overseas users to its databank of 100 000 local companies, enabling the users to obtain information free of charge. It also produced more than 100 research publications, an online product catalogue, 15 trade magazines and numerous supplements.
The TDC sought to expand its global network and strengthen the advocacy for Hong Kong through high-level business seminars in the world's business capitals, roadshows, speaking engagements at international events, global advertising campaigns in the world's top business and trade publications, and its online business newspaper Hong Kong Trader (which was sent electronically to 130 000 senior corporate executives and decision-makers around the world). The TDC serviced three high-level bilateral business committees to help foster stronger economic and trade ties between Hong Kong and the United States, the European Union and Japan. To facilitate partnership and cooperation between Hong Kong SMEs and their counterparts all over the world, the TDC also maintained close liaison with nearly 30 Hong Kong Business Associations around the world, as well as the global federation of these business associations, the Federation of Hong Kong Business Associations Worldwide. The federation connects almost 8 300 SMEs that have close links with Hong Kong.
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. It is wholly owned by the Government, which also guarantees its maximum contingent liability, currently standing at $12.5 billion.
The corporation provides a wide range of insurance facilities to Hong Kong exporters of goods and services trading on credit terms. The Comprehensive Cover Policy, which covers the payment for export, re-export and external trade of goods for credit terms up to 180 days, is the most widely used insurance scheme. Tailor-made policies and cover of varying percentages of indemnity are also available to cater for the different needs of exporters in different business sectors.