ENG-2017 — Page 143

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Commerce and Industry

Free Trade Agreement Transhipment Facilitation Scheme

The Free Trade Agreement Transhipment Facilitation Scheme allows consignments passing through Hong Kong to be charged preferential tariffs under FTAs signed between the Mainland and her trading partners. The department supervises such consignments and issues a certificate of non-manipulation enabling traders to claim preferential tariff from the authorities at the importing end.

Government Electronic Trading Services

The Government Electronic Trading Services allows the trading community to submit certain trade-related documents electronically to fulfil statutory obligations in a cost-effective and environment-friendly manner. Three government-appointed operators provide the services, which processed about 21 million transactions in 2017.

Trade Single Window

At present, the import and export trade submits trade documents to the government through different platforms, including the Government Electronic Trading Services. The government is working to set up a Trade Single Window to allow one-stop lodging of all 50-plus types of trade submissions with the government for trade declaration and customs clearance purposes. The Trade Single Window may in future connect with single window systems in other territories and with trade information platforms run by the private sector. During the year, the government refined the Trade Single Window proposal to take into account views raised in a consultation exercise, continued to engage stakeholders and made preparations for rolling out the first of three phases of the Trade Single Window in mid-2018.

Trade and Industrial Support Organisations

Hong Kong Trade Development Council

The statutory Hong Kong Trade Development Council promotes, facilitates and develops trade and investment opportunities for Hong Kong. With more than 40 offices globally, including 13 on the Mainland, it promotes Hong Kong as a platform for doing business with the Mainland and throughout Asia, and as an international commercial hub for the Belt and Road Initiative.

The council organises international exhibitions, conferences and business missions to help companies, particularly SMEs, seize business opportunities on the Mainland and in international markets, while providing market information via trade publications, research reports and digital channels.

Hong Kong Export Credit Insurance Corporation

The statutory Hong Kong Export Credit Insurance Corporation encourages and supports export trade by providing insurance protection for Hong Kong exporters against non-payment risks arising from commercial and political events. It also offers free buyer credit assessments to help exporters seize business opportunities. In June, the cap on the corporation's contingent liability under contracts of insurance was increased to $55 billion.

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