COMMERCE AND INDUSTRY
The corporation's total insured business in 2002 amounted to $27.67 billion, representing an increase of 3 per cent on the previous corresponding period. Gross premium income grew by 4 per cent at $135.91 million. Cash claims payment decreased by 51 per cent over 2001 to $51.90 million.
During the year, the corporation continued to strengthen the support it gives to SMEs. It worked closely with trade associations and various organisations in organising workshops and seminars to enhance exporters' understanding of credit management. To facilitate access by SMEs to credit reports on overseas buyers, the corporation helped liaise with some credit information agencies in major export markets regarding the supply of credit reports at preferential rates. In addition, the corporation continued to work with commercial banks with a view to helping SMEs secure export financing.
To further enhance its expertise in export credit insurance, the corporation continued to maintain close cooperation with members of the International Union of Credit and Investment Insurers (Berne Union) and the APEC Export Credit Agencies (ECAs) through visits, meetings and workshops.
Hong Kong Science and Technology Parks Corporation
The Hong Kong Science and Technology Parks Corporation (HKSTPC) was established in May 2001 to offer one-stop infrastructural support services to technology-based companies and activities in a synergistic manner. It is a statutory body formed by merging the former Hong Kong Industrial Estates Corporation, Hong Kong Industrial Technology Centre Corporation and Provisional Hong Kong Science Park Company Ltd. It offers a comprehensive range of services to cater for the needs of industry at various stages. These services range from nurturing technology start-ups through the incubation programme and providing premises and services in the Science Park for applied research and development activities to the provision of land and premises in the industrial estates for production purposes.
The Science Park, being developed by the HKSTPC at Pak Shek Kok, will provide a total area of 22 hectares. Built under the concept of clustering, it will provide an effective working environment and support services to facilitate collaboration and synergy among its tenants and ultimately enhance Hong Kong's long-term economic success. The initial four clusters are electronics, information technology and telecommunications, biotechnology, and precision engineering. Phase 1 of the Science Park was officially opened in June.
The HKSTPC operates three industrial estates with 214 hectares of land, in total. Developed land is provided at cost to companies with new or improved technology and processes that cannot operate in multi-storey buildings. The industrial estates have helped broaden the industry base and upgrade the technology level of Hong Kong. The industrial estates in Tai Po and Yuen Long are practically full while the one in Tseung Kwan O is half-full.
Through its business incubation programme, the HKSTPC nurtures technology- based start-up companies by providing low-cost accommodation as well as management, marketing, financial and professional business services in the critical initial years of these companies.
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