CHINA
741.
greater security brought about by the presence of a combined British and Chinese patrol in local waters. In Canton itself trade was adversely affected by political un- rest during the greater part of the year. The value of the whole trade (excepting only re-exports abroad of foreign imports) is Hk. Tls. 1,013,677,044, or 5.7 million taels more than in 1910. This total consists of net foreign imports, direct and coastwise, Hk. Tls. 473,517,685, and of native exports, both abroad and coastwise, Hk. Tls. 540,159,359.
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Revenue. The total collection-Hk. Tls. 36,179,825—exceeded that of 1910 by Hk. Tls. 607,946, and constitutes, in spite of all that has happened, a "best on record" re- venue, to the credit of the year of revolution! This figure would, of course, have been greatly exceeded had the trade of the last quarter not heen interfered with by political disturbances. The increase in the import duty (exclusive of opium), Hk. Tis. 353,692, as compared with 1910, is due to increased importations of kerosene oil, cottons, etc.; while the falling off in the export duty, Hk. Tis. 374,607, must be set down to the com- bined effects of flood, famine and revolution. The opium duty and likin figures amount to Hk. Tls. 4,955,788, or Hk. Tls. 903,766 in excess of the 910 collection, in spite of the fact of a greatly lessened import of the drug. The increase is made up of two elements: the enhanced collection due to the raising of the consolidated tax (chity and likin) from Hk. Tls. 110 per picul to Hk. Tls. 350 on and after the 8th May 1911, in terms of the Indian Opium Agreement of that date, and also to the fact that in order to escape the incidence of the higher duty, a certain amount of opium in bond, principally at Shang- hai, prior to the 8th May paid duty at the old rate without being taken out of bond.
Foreign Trade.-The value of the direct foreign trade was Hk. Tls. 848,842.109 ex- ceeding the total of 1910, the highest hitherto recorded, by Hk. Tls, 5,043,887. Foreign imports amounted to Hk. Tls. 471,5 3,943, or an increase of Hk. Tls. 8,539,049; and exports, to Hk. Tls. 377,339,166, or a decrease of Hk, Tls. 3,495,162. The tratie during the first nine months of the year showed great expansion as compared with 1910; and that even after the collapse brought about in the fourth quarter by political causes still continued to pour into the country. Con- sequently, it need surprise no one that, in spite of all that has happened, the total value of the imports in 1911 constitutes a record. The increase of 45 million taels in the value of imports recorded in 1910 was due more to the enhanced value of opium and cotton goods than to any quantitative gains in other items. In 1911, however, increas ed quantities as well as higher values have co-operated to swell the total. Kerosene oil and textiles are examples of the former, and the 48 million odd taels set down for the value of opium well illustrate the latter.
Imports. The net importation-¿e., deliveries from bond-of foreign opium was 27,808 piculs, valued at Hk. Tls. 48,256,745, as compared with 35,358 piculs, valued at Hk. Tls. 55,410,850, in 1910, and 48,917 piculs, worth Hk. Tls. 35,744,979, in 1909. The great event of the year in this connection was the Indian Opium Agreement between China and Great Britain on the 8th May. By it the consolidated duty (import and likin) is raised from Hk. Tls. 110 per picul to Hk. Tls. 350; while facilities are provided for a more rapid diminution in the importation of the Indian drug than were contained in the previous Agreement, of 1907. It is also stipulated that the export of opium from India to China shall cease in less than seven years (ie., any time before 1917, the date previously fixed for the total extinction of the trade), “if clear proof be given of the complete absence of production of native opium in China.” Another very important clause provides that Indian opium shall not be conveyed into any province of China which can establish by clear evidence that it has effectively suppressed the cultivation and import of opium. The Hongkong value of Indian opium during 1911 was largely influenced by speculation, and ranged between $2,200 and $5,000 per chest. The following figures illustrate the rise in the Hongkong value of the Indian drug since 1907, the date of the first restriction Agreement:-
New Malwa. New Patna. New Benares.
End of 1907 ...
1908
1909
1910
"
1911 ...
...per chest $ 920
$ 937
1,110
"
1,135
...
1,3-5
1,465
2,200
}}
2,500
""
3,550
3,800
8 915
1,070
1,475
2,500
3,80J
The price of fine Persian opium in Hongkong at the end of the year was $2,200 per chest, as compared with $750 per chest at the end of the year 1907.
The importations of the principal descriptions of plain cottons, namely, grey and white shirtings, sheetings, drills, jeans, and 1-cloths, according to countries of origin, have been as follows:-
Digitized by