128
CHINA
Yarns, the mills of India, Japan, and China are provided with machinery specially arranged to meet the demand for coarse Yarns in the Eastern markets.”
"When railways are built we shall see a great advance in the trade, not only because goods will penetrate further, but because a large proportion of the capital used in con- struction will be spent by the Chinese on Foreign goods, to be paid for eventually by Exports."
"Nearly every article [of export] shows a large increase. Bristles, Fans, Feathers, Hemp, Hides, Mats and Matting, Oils, Rhubarb, Sesamum Seed, Skins, Tobacco, and Wool are all progressing trades. Silk, with the exception of Steam Filature Silk, does not show a healthy expansion, and is not likely to do so unless the disease among the worms is taken in hand. Black Tea has fallen away, but Green Tea has held its ground, while Brick Tea has improved. There is every reason to expect that the trade in Sundries will continue to expand, even supposing that nothing is done to encourage the export of Tea and Silk.”
"Foreign Trale. One would naturally have expected a disastrous commercial panic with heavy failures; but the year has been, generally speaking, a fairly good though anxious one. Trade was so brisk during the first six months and revived so strongly towards the close that contrary to all expectations, the value of the Foreign trade was well up to the average of late years, although naturally falling short of such an exceptional year as 1899. At Newchwang such astonishing progress was shown previous to the disturbances that a rapid recovery may be looked for. Tientsin may possibly be adversely affected for some little time, but it is just as likely that the profits of the military occupation and the wide distribution of hoarded wealth which has taken place will lead to an early increase of trade there. Personal experience is more persuasive, than advice, and the Chinese Government will probably be more disposed to regard with favour the extension of railways since the arduous journey of the Court to Hsi-an to which place supplies came very slowly and suffered considerably in bulk on the road. Famine too has come under their immediate notice, and the people were perishing around them without hope of the relief which railways could have brought. Whatever changes may result from the events of 1900, whatever readjustments may take place in the share of the trade taken by each country, it may be confidently expected that the Foreign commerce of China, as a whole, will continue the expansion which was so marked in 1899.”
"Imports.--The net value of the Import trade was Hk.Tls. 211,070,422. It was not to be expected that under such unfavourable circumstances the figures of the previous record year would be reached, but it will probably come as a surprise that 1898, which beat all former years, amounting to Hk.Tls. 209,579, 334, should have been exceeded. As regards Opium, the year was profitable to importers and dealers, and the importation only fell below that of 1898 by 584 piculs, though nearly 10,000 piculs short of the 1899 total. Prices fluctuated greatly during the year. Exchange with India varied between Rs. 199 and Rs. 2203. Inasmuch as Malwa is principally consumed in the North, it is remarkable that the importation actually exceeded that of 1898, viz., 22,872 piculs, as against 18,980 piculs. It is estimated by dealers that at least 100 chests a month are passed in to China through Kwangchowwan without coming under the cognizance of the Customs; and if this is true, there was no falling off in the trade even as compared with 1899.”
"Importers of Cotton Goods have passed through a very anxious crisis, but disaster was averted by another short Cotton crop in America. The goods which arrived in the spring were imported at enhanced prices, and although on the breaking out of the trouble in the North the spring purchases for the autumn market were stopped, there were large stocks which could not be placed and which would have shown a heavy loss had the price of Cotton fallen. The banks assisted importers, the short Cotton crop saved the situation, and the demand which arose late in the year, especially for the Yangtze ports. effected satisfactory clearances. With the exception of Jeans, all heavy goods felt the disturbance in their principal markets in the North, though Dutch and Indian Drills and Indian Sheetings showed small improvement. English Cotton Yarn fell away again, and the importation declined to 30,916 piculs--less than half what it was 10 years ago. Indian Yarn only amounted to 985,989 piculs, a great decrease on previous years, while Japanese Yarn was still imported almost as freely as in 1898. The principal feature of the trade was the increased demand for Printed and Dyed goods. Cotton Prints rose to 968,828 pieces ; Printed Twills, to 68,915 pieces; Cotton Lastings, to 1,216,460 pieces. Velvets and Velveteens were in greater demand. The total value of the Cotton Goods was Hk.
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