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in the Mainland, the HKTDC helps Hong Kong SMEs develop business opportunities and trade contacts; and to acquire market knowledge and competitive skills.
The HKTDC has helped position Hong Kong as the international exhibition and convention centre of Asia. It organised more than 30 exhibitions during the year, 10 of which are the largest of their kind in Asia, while three are the largest of their kind in the world. These events attracted nearly 32 500 exhibitors and more than 658 000 buyers.
In the Mainland, the HKTDC's focus was on promoting
on promoting Hong Kong as a professional, creative and financial services platform, a logistics hub, a partner for Mainland businesses seeking global opportunities and a prime supplier of fashionable and lifestyle products. In mature markets, the HKTDC stepped up efforts to differentiate Hong Kong merchandise by highlighting reliable quality, stylish designs and adherence to stringent green and safety standards. The HKTDC's focus in new markets was primarily on pathfinding and image-building to identify business opportunities for Hong Kong SMEs.
The HKTDC publishes 15 product magazines and industry supplements that annually reach more than five million readers. It also produced about 170 trade reports, sector-specific updates and business newsletters in 2011. The HKTDC's online marketplace (http://www.hktdc.com) featured more than 1.1 million registered buyers and more than 120 000 quality suppliers from Hong Kong, the Mainland and beyond. It also provided 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 established by statute in 1966. It was created with the aim of encouraging and supporting export trade by providing Hong Kong exporters with insurance protection against pre- and post-shipment non-payment risks arising from commercial and political events. Its contingent liability is guaranteed by the HKSAR Government, with the statutory maximum liability currently standing at HK$30 billion. The ECIC is required to operate in accordance with the requirements laid down in the Hong Kong Export Credit Insurance Corporation Ordinance and to pursue a policy directed towards securing revenue sufficient to meet all expenditure properly chargeable to its revenue account.
The ECIC's total insured business in 2011 amounted to $87 billion, an increase of 9.8 per cent over 2010. Gross premium income grew by 1.9 per cent to $283.2 million. Cash claims payments decreased by 39.7 per cent to $41.7 million.
The ECIC is committed to strengthening its support for the exporting community by enhancing exporters' understanding of the essence of credit management. Its insurance cover is useful collateral in facilitating exporters in obtaining trade finance. It introduced the extended cover in March 2011 to insure the sales contract between Hong Kong policyholders' mainland/overseas subsidiaries and their buyers, so as to cope with the need of the Hong Kong export sector for developing the mainland domestic and emerging markets. In view of the uncertain
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