ENG-2001 — Page 164

COMMERCE AND INDUSTRY

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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 are also available to cater for the different needs of exporters in different business sectors.

In March, the corporation launched a new Internet-based service, 'EC-link'. Exporters can apply for the ECIC's insurance policies and check the details of their insurance policies on-line through the EC-link. The service also facilitates exporters' acquisition of export financing from banks as the latter can access the terms and conditions of cover under the exporters' credit insurance policies for assessment purposes.

To step up its support to SMEs, the corporation continued to promote the 'ECIC Supported Export Finance for SMEs' which was introduced in May 2000. The scheme enables SMEs to acquire export financing using ECIC insurance policies as collateral security without additional tangible security. Some 40 major financial institutions have participated in the scheme.

The corporation's total insured business in 2001 amounted to $26.91 billion, representing an increase of 1 per cent on the previous corresponding period. Gross premium income decreased by 4 per cent at $131.04 million. Cash claims payment totalled $105.08 million, up by 107 per cent over 2000.

Internationally, the corporation continued to maintain close co-operation with members of the International Union of Credit and Investment Insurers (Berne Union) through visits, meetings and workshops. Being one of the APEC Export Credit Agencies (ECAs), the corporation took an active role in the work of the APEC ECAs.

Hong Kong Science and Technology Parks Corporation

The Hong Kong Science and Technology Parks Corporation (HKSTPC) was established in May 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, ranging from nurturing technology start-ups through the incubation programme, providing premises and services in the Science Park for applied research and development activities, to providing land and premises in the industrial estates for production.

The Science Park being developed by the HKSTPC at Pak Shek Kok, Tai Po will provide a total area of 22 hectares. Built under the concept of clustering, the Science Park 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, biotechnology and precision engineering. Phase 1 of the Science Park, which comprises eight hectares of land, is targeted to open in mid-2002. In view of the encouraging demand from both local and overseas technology-based companies, planning work for Phase 2 will be expedited with the aim of completing the whole