Albert Lai
General Manager, Hong Kong Export Credit Corporation (HKEC)
Introduction
Since the 1960s Hong Kong’s export-driven economy has been supported by the development of export credit insurance. Hong Kong Export Credit Insurance (HKEC) was created by statute in 1966 to provide export credit insurance services for Hong Kong exporters against non-payment risks arising from commercial and political events. The government of the Hong Kong Special Administrative Region, which guarantees HKEC’s contingent liability up to HK $10 billion, owns its capital. HKEC is currently the major player in the export credit insurance market.
Industry Environment
Being an export-oriented economy, Hong Kong ranks 10th in the world's largest trading regions. Hong Kong is one of the world's leaders in the export of consumer products, especially clothing and textiles, toys, consumer electronics and jewellery.
