ENG-1992 — Page 112

INDUSTRY AND TRADE

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Being a member of the International Union of Credit and Investment Insurers (Berne Union), ECIC has regular access to confidential and updated economic and market information on all major trading countries. The corporation stays close to exporters and manufacturers in order to understand their needs. It holds seminars for banks, trade associations and individual exporters.

The ECIC's activities fall into three main categories. The first category is the protection provided by the corporation to indemnify policyholders up to 90 per cent of their losses. Besides domestic exports and re-exports, shipments from third countries direct to overseas buyers are also covered. Protection is provided to exporters against non-payment due to buyers' insolvency and default, war or civil disturbance and transfer delays. Cover can also be extended to outward processing operations against confiscation and non-repatriation of raw materials, work-in-progress and finished products. For export of capital goods and services sold on medium or long-term credits, the ECIC can provide tailor-made insurance policies.

The second category of ECIC's activities is the provision of credit advisory services to its policyholders. On request by a policyholder, the corporation will investigate the prospective buyer's creditworthiness, having regard to the market trading environment and the terms of payment of the proposed transaction, and advise the policyholder on the amount of credit that can be prudently extended to the overseas buyer.

Finally, the ECIC provides a risk management service when a policyholder experiences payment problems. A policyholder is advised on possible courses of action either to prevent or minimise any loss.

Other Trade and Industrial Organisations

A number of associations have been established in Hong Kong to represent the interests of industry and commerce. Among the larger, older, and more influential associations are the Federation of Hong Kong Industries, the Chinese Manufacturers' Association, the Hong Kong General Chamber of Commerce and the Chinese General Chamber of Com- merce. Other important organisations include the Hong Kong Management Association, the Hong Kong Exporters' Association, the American Chamber of Commerce, the Indian Chamber of Commerce, and the Hong Kong Japanese Chamber of Commerce and Industry.

The Federation of Hong Kong Industries is a statutory body, established by the government in 1960 to promote and protect the interests of Hong Kong's manufacturing industry. It offers a wide range of services, covering certificates of origin, the Hong Kong Quality Mark Scheme, a custom-built multi-risks insurance policy, consultancy work on quality assurance, trade enquiries and economic research.

With a membership spanning all industrial sectors, the federation services the Hong Kong Toys Council, Chemical and Pharmaceutical Industries Council, Transport Services Council, Hong Kong Watch and Clock Council, Hong Kong Electronics Industry Council, Hong Kong Plastics Industry Council and the Hong Kong Mould and Die Council. It also runs an annual Young Industrialist Award of Hong Kong and is responsible for organising the consumer product design award category of the Governor's Award for Industry.

The Chinese Manufacturers' Association of Hong Kong (CMA), established in 1934, is a non-profit-making chamber of commerce and industry. It is also a member of the