ENG-2012 — Page 137

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Commerce and Industry

Hong Kong Export Credit Insurance Corporation

To encourage and support the export trade, the Hong Kong Export Credit Insurance Corporation (ECIC) was established by statute to protect Hong Kong exporters against non- payment risks arising from commercial and political events. An increase in its contingent liability under contracts of insurance guaranteed by the HKSAR Government from $30 billion to $40 billion was gazetted in December 2012. The ECIC is required to operate in compliance with 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 2012 amounted to $95 billion, an increase of 9.2 per cent over 2011. Gross premium income slightly decreased by 0.3 per cent to $282.5 million. Cash claims payments increased by 105.3 per cent to $85.6 million.

In view of the uncertain overseas market conditions, the ECIC introduced additional measures in February 2012 to assist Hong Kong exporters in doing business with overseas buyers. It offered special policy terms and premium discounts to companies with small annual business turnover and extended the insurance cover to sales contracts between Hong Kong exporters' majority owned subsidiaries in the Mainland or other markets and their buyers. In addition, the ECIC extended the annual policy fee waiver for one more year to 30 November 2013.

The Hong Kong Science and Technology Parks Corporation

The Hong Kong Science and Technology Parks Corporation provides one-stop infrastructural support services to technology-based companies. It nurtures start-ups through incubation programmes, provides facilities and services at the Science Park for applied R&D, and offers land in industrial estates for manufacturing and servicing industries.

The 22-hectare Science Park in Sha Tin is the flagship infrastructure that supports the Government's mission to turn Hong Kong into a regional innovation hub. Phases 1 and 2 have been completed and have an occupation rate of 95 per cent. Phase 3 will be available for use between early 2014 and 2016. The three phases will provide a total of 330,000 square metres of gross floor area for R&D by local and overseas companies in electronics, information technology and telecommunications, biotechnology, precision engineering and green technology. The corporation also manages three industrial estates in Tai Po, Yuen Long and Tseung Kwan O occupying 217 hectares. Serviced land is provided to companies using new or improved technology and processes that cannot operate in multi-storey buildings. The corporation will continue to revitalise the industrial estates to meet the challenges and opportunities brought about by economic re-structuring and to help broaden Hong Kong's industry base.

The corporation runs incubation programmes for technology start-ups, providing them with rental, marketing, financial and technical assistance in their critical initial years.

Hong Kong Productivity Council

The Hong Kong Productivity Council (HKPC) promotes productivity excellence among Hong Kong enterprises. Its focus is on the manufacturing and service industries in Hong Kong and the Pearl River Delta region in four areas: manufacturing technologies, information technologies,

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