CHINA
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Yarus, the mills of India, Japan, and China are provided with machinery specially arranged to meet the demand for coarse Yarns in the Eastern_markets.”
"The prediction was ventured in the Report written last year that when peace was restored trade would rapidly recover from the depression caused by the deplorable events of 1900. It will be seen that this anticipation has been verified even sooner than was to be expected; for during a great portion of 1901 conditions were not at all favourable to recovery. As was said in the last Report, a great advance in trade must follow the building of railways, and it may be interesting to record how far the work has progressed. The Shantung Railway had 160 kilometres completed at the end of the year, and trains were running between Tsingtao and Tso-shan. This next spring it is expected to reach the Ma-ssi Coal mines, and should be completed as far as Chi-man-fu, the capital of the province, in three years. The Imperial railways of North China between Peking and Tientsin and Newchwang, with extensions to Chinwangtao, and from Fêng-t'ai to the Lu-Han Railway, and extensions to Tung- chou and Hsin-min-t'un, have 901 kilometres completed. The short line between Shanghai and Woosung, 18 kilometres, is said to be paying its way now, but nothing has been done by way of commencing the projected railway from Shanghai to Soochow, Ningpo, etc. The great trunk line from Peking to Hankow makes steady progress, and the influence on trade should be felt immediately. During the year the section between Lu-kou-ch'iao and Paotingfu, destroyed by Boxers, was rebuilt, and the line has been carriel down to Chêngtingfu, distant from Peking 262 kilometres. In 1902 it is hoped to complete the line as far south as Shun-tê-fu, à further distance of 125 kilometres. In the South, at the end of the year 175 kilometres northwards from Hankow were completel, and trains will be running as far as Hsin-yang (22) kilmoetres) about the 1st May next. By the end of the year it is hoped that the track will be laid for another 100 kilometers north of Hsin-yang. It is intended to commence work shortly on the line from Wuchang to Canton. Experience has already shown that railways in China are eagerly availed of and that business increases wherever they are built, and it may be hoped that the Commercial Treaties to be concluded under the provisions of the Peace Protocol will further assist in encouraging Foreign trade.
"Foreign Trade-In spite of adverse circumstances the year was a good one for Foreign trade, especially as regards Imports, and the total estimated value of Imports and Exports was Hk. Tls. 437,959,675, higher than any other year except 1899. The northern ports showed a satisfactory recovery, although Tientsin did not altogether regain its former position. There was no rush of Imports to escape the increased duty, except at one or two of the southern ports, and the trade was thoroughly healthy. The future depends very much on an increase in the Export trade and the course of exchange. Heavy taxation to pay indenmities will to that extent diminish the purchasing power of the people; and unless Exports are stimulated, silver must be exported or Imports must decline. It will be seen that the value of Imports exceeded the value of Exports by Hk. Tls, 49,916,706, and, for the first time for many years, there was a net export of silver to the value of Hk. Tls. 6,097,802. The principal fact to bear in mind, however, would seem to be that the Chinese, in spite of their difficulties, were able to spend twice as much silver on Foreign Goods as they did in
1891.
“Imports.-The value of the net Imports was estimated at Hk. Tls. 268,302,918, an increase of Hk. Tls. 57,232,495 on the total of the previous year, more than 3 millions better than in 1899, which exceeded overy other year, and rather more than double The figures for 1891.
"The importation of Opium amounted to 49,466 piculs, an increase of 265 piculs only as compared with the quantity in 1900. The last 10 years have seen a serious falling off in importations, which amounted to 77,227 piculs in 1891. There seems no doubt that the cultivation of Native Opium is spreading throughout the Empire, and the future prospects for the imported article are not encouraging.
"The value of Cotton Goods of all kinds importe: was estimated at Hk. Tls. 99,651,999, about 24 millions higher than in the previous year. American heavy goods continue to find favour, Drills from that country having now reached 1,649,626 pieces, or more than double the importation of 1909, while Sheetings rose to 2,840,518 pieces. Japanese goods, too, show progress, Japanese Shirtings having risen from 1,256 to 14,029 pieces, and a common quality of T-Cloths from 105,071 to 298,608 pieces. Grey and White Shirtings were about the same, amongst them being included a growing importation of American goods. Dyed goods showed an advance. Jeans of all kinds fell off, as this class of goods goes chiefly to the North, where the conditions were not yet normal. English
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