ENG-2004 — Page 176

142 Commerce and Industry

Hong Kong and the Pearl River Delta where overseas manufacturers can set up their Mainland production facilities.

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 180 business training courses and workshops for SMEs in 2004. Its internet trade portal provided a cyber-marketplace for comprehensive trade information, e-commerce facilities and other value-added services, most of which were free of charge. The portal was 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.

The TDC also maintains a global databank of about 620 000 business contacts, which users worldwide can source and find business partners. 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 its advocacy of Hong Kong through high-level business seminars in the world's business capitals, road shows, 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 over 300 000 senior corporate executives and decision-makers around the world). The TDC serviced three high-level bilateral business committees to help foster stronger economic ties between Hong Kong and the United States, the European Union and Japan. To facilitate partnership and cooperation between Hong Kong SMEs and their overseas counterparts, the TDC also maintained close liaison with nearly 30 Hong Kong Business Associations around the world and the global federation of these business associations, the Federation of Hong Kong Business Associations Worldwide, which connects over 9 000 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 export credit insurance facilities for Hong Kong exporters of goods and services against non-payment risks arising from commercial and political events. The corporation is wholly owned by the Government, which also guarantees its maximum contingent liability, currently standing at $12.5 billion.

The ECIC encourages and supports export trade through the provision of professional and customer-oriented services. It provides a wide range of insurance facilities to Hong Kong exporters of goods and services for payments on credit terms. The Comprehensive Cover Policy, which covers exports, re-exports and external trade business for credit terms up to 180 days, is the most commonly used insurance policy. Tailor-made policies and endorsements are also available to cater to the specific needs of exporters in different sectors.

The corporation's total insured business in 2004 amounted to $31.56 billion, representing an increase of 8.7 per cent over the previous corresponding period.