Commerce and Industry | 131
Tailor-made policies and endorsements are also available to cater to the specific needs. of exporters in different sectors.
The ECIC's total insured business in 2005 amounted to $35.2 billion, an 11.4 per cent increase over 2004. Gross premium income grew by 5.7 per cent to $155.7 million. Cash claims payments increased by 2.7 per cent to $34.4 million.
During the year, the ECIC continued to strengthen its support to the exporting. community, especially SMEs. It worked closely with various trade associations and institutions in organising workshops and seminars to enhance exporters' understanding of credit management. Banks have generally accepted the insurance policy as useful collateral in granting export financing to exporters, especially SMEs.
In addition, it devoted extra resources to help exporters capture the opportunities arising from CEPA and the 'Pan-Pearl River Delta Regional Cooperation' to encourage Hong Kong's export trade. It also maintained close cooperation with members of the International Union of Credit and Investment Insurers (Berne Union) through visits, meetings and workshops.
Hong Kong Science and Technology Parks Corporation
The Hong Kong Science and Technology Parks Corporation was established in 2001 to offer one-stop infrastructural support services to technology-based companies and activities in a synergistic manner, ranging from nurturing technology start-ups through an 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 industrial estates for production purposes.
The Science Park will provide a total area of 22 hectares through three phases of development. Phase 1 was officially opened in June 2002. Construction of Phase 2 is underway and is expected to be completed in stages starting from 2007. It provides an effective research and development environment and support services to facilitate collaboration and synergy among its tenants under four clusters. electronics, information technology and telecommunications, biotechnology and precision engineering.
The corporation operates three industrial estates in Tai Po, Yuen Long and Tseung Kwan O, with 217 hectares of land in total. Developed land is provided at cost to companies with new or improved technology and processes that cannot operate in multistorey buildings. The industrial estates have helped broaden the industry base and upgrade the technology level of Hong Kong.
The corporation nurtures technology-based start-up companies through its business incubation programme by
programme by providing low-cost accommodation and management, marketing, financial and professional business services in their critical first years.
Hong Kong Productivity Council
The Hong Kong Productivity Council promotes productivity excellence among Hong Kong companies.
Page 165Page 166