More support for exporters set

June 8, 2020

Secretary for Commerce & Economic Development Edward Yau:
Almost on a weekly basis you have heard our health authorities adjusting all the control legislation and measures. So the measures I rolled out just now are in line with this suppress and lift policy. Wherever possible, we need to revitalise the economy, allowing normal business to go on – be it business promotion, convention exhibition or tourism starting at home. So these are the guiding principles. 

As regards the manufacturing sector, we know that Hong Kong’s stake in the Mainland is very big. And that is why, in terms of their exports through Hong Kong, we need to help them to address problems. And the export insurance measures that we have rolled out through Hong Kong Export Credit Insurance Corporation is in fact one of these typical examples where when we see exporters facing problems in selected markets, we try to help them with added insurance protection, without adding a premium. 

And at the same time I think we have also worked very closely with manufacturers in the Mainland, helping them to turn exports into Mainland internal marketing. In addition, market development and trade promotion, as outlined by the Trade Development Council Chairman, are also measures to help them along those directions.

(To watch the full press briefing with sign language interpretation, click here.)

The Hong Kong Export Credit Insurance Corporation today announced the launch of a 100% Credit Limit Top-Up Scheme.

Under the scheme, the corporation will increase the buyers’ credit limits of its policyholders by 100%, subject to a cap of $100 million.

Briefing the media today on measures to revitalise the local economy, Secretary for Commerce & Economic Development Edward Yau said the scheme aims to strengthen support and protection for Hong Kong exporters.

“As regards the manufacturing sector, we know that Hong Kong’s stake in the Mainland is very big. And that is why, in terms of their exports through Hong Kong, we need to help them to address problems.

“And the export insurance measures that we have rolled out through Hong Kong Export Credit Insurance Corporation is in fact one of these typical examples where when we see exporters facing problems in selected markets, we try to help them with added insurance protection, without adding a premium.”

Mr Yau added the Government also helps manufacturers explore the Mainland domestic market.

“At the same time I think we have also worked very closely with manufacturers in the Mainland, helping them to turn exports into Mainland internal marketing.

“In addition, market development and trade promotion, as outlined by the Trade Development Council Chairman, are also measures to help them along those directions.”

The commerce chief also noted other measures to revitalise the economy include the reopening of Ocean Park on June 13 and the Hong Kong Book Fair to be held from July 15 to 21.

He said the measures are in line with the Government’s disease prevention strategy.

“Almost on a weekly basis you have heard our health authorities adjusting all the control legislation and measures. So the measures I rolled out just now are in line with this suppress and lift policy.

“Wherever possible, we need to revitalise the economy, allowing normal business to go on - be it business promotion, convention exhibition or tourism starting at home. So these are the guiding principles.”