ENG-2006 — Page 156

124 | Commerce and Industry

which covers exports, re-exports and external trade business for credit terms up to 180 days, is the most popular policy. Tailor-made facilities are also available for meeting the needs of exporters in different sectors.

The ECIC's total insured business in 2006 amounted to $38.6 billion, a 9.8 per cent increase over 2005. Gross premium income grew by 6.8 per cent to $166.3 million. Cash claims payments decreased by 4.6 per cent to $32.83 million.

The ECIC continued to strengthen its support to the exporting community by enhancing exporters' understanding of the essence of credit management. Banks generally accepted the cover as useful collateral in providing export financing to exporters.

In addition, it devoted extra resources to help exporters capture the opportunities arising from CEPA and the Pan-Pearl River Delta Regional Cooperation. In 2006, the ECIC celebrated its 40th anniversary and organised a series of seminars on trade issues for exporters.

Hong Kong Science and Technology Parks Corporation

The Hong Kong Science and Technology Parks Corporation was established in 2001 to

to offer one-stop infrastructural support services to technology-based companies and activities in a synergetic manner, ranging from nurturing start-ups through incubation programmes, providing premises and services in the Science Park. for applied research and development activities, creating and sustaining a design cluster in the InnoCentre, to offering land and premises in industrial estates for production..

The Science Park will occupy 22 hectares of land being developed in three phases. Phase 1 was officially opened in June 2002. Construction of Phase 2 is expected to be completed in stages from 2007 to 2010. The park 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, which together sit on 217 hectares of land. 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 in Hong Kong.

The corporation nurtures technology-based start-up companies through its business incubation programme by providing low-cost accommodation and management, marketing, financial and technical assistance in their critical first years of operation. A new incubation programme was launched in 2006 to support design start-ups. The corporation also initiated a Small Technology/Design Enterprise Programme during the year to provide support services and office premises to graduates of these programmes to help them become full-fledged tenants.