ENG-2007 — Page 168

124 | Commerce and Industry

business tools. It also provides an online business matching platform for Hong Kong companies and overseas buyers.

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 ECIC is wholly owned by the HKSAR Government, which also guarantees its maximum contingent liability, currently standing at $15 billion.

The ECIC 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 on credit terms up to 180 days, is the most widely used policy. Tailor-made facilities are also available to meet the needs of exporters in different sectors. The ECIC also provides support to the exporting community through enhancing exporters' understanding of

of risk

management.

The ECIC's total insured business in 2007 amounted to $41.9 billion, an 8.5 per cent increase over 2006. Gross premium income grew by 6.5 per cent to $177.1 million.

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 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 and Phase 2 in September 2007, but construction of Phase 2 is still going on and is expected to be completed in stages between 2007 and 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 and design start-up companies through its incubation programme by providing low-cost accommodation and management, marketing, financial and technical assistance in their critical first years of operation. The corporation also implemented a Small Technology/Design Enterprise