590
CHINA
number of new firms. Another event of importance was the Conference of British Chambers of Commerce opened at Shanghai on the 5th November, under the presidency of the British Minister. Its primary aim, as shown by its published pro- ceedings, is the co-operation of British merchants in a trade policy favourable to British and Chinese interests. Yet another noteworthy feature of the year was the establishment of Anglo-American-Chinese commercial clubs at Shanghai and Tientsin- at Tientsin known as the A B C Club-intended to promote social and business intercourse between Chinese and foreigners.
Many new industrial banks were established by Chinese during the year on foreign lines in support of various trade interests. The development of industrial en- terprises-in textiles especially-was apparently only limited by the impossibility of obtaining the necessary machinery. There are few foreign-type articles of domestic use that are not now manufactured in China by factories on modern lines, the majority of them without foreign assistance. Out of a long list the following may be mentioned:- enamelledware; silk and cotton clothing and underwear; toilet articles; umbrellas; woollen yarn; mother-of-pearl, bone, and horn buttons; chemicals; needles; electric lamps; telephone appliances; asbestos manufactures; wine; beer; beet sugar; glass ware; window glass. Weaving and flour mills were exceptionally active during the year. Shipbuilding on a considerable scale may now be counted as one of the established industries of China, capable of great expansion. According to Lloyd's shipping returns there were launched from Chinese yards during 1919 vessels aggre- gating 12,307 tons. A new building yard at Shanghai has recently been added. New mining enterprises have recently been started in different parts of the country, and such old-established institutions as the Han-Yeli-Ping Corporation and the Kailan Mining Administration are greatly extending their plant and operations.
With the exception of the public works mentioned above (aeroplanes, wireless tele- graph and telephone installations, river conservancy, etc.), which owe their existence mainly to the pressure of trade interests, there is not much to be recorded of essential developments, undertaken for the benefit of the country as a whole, such as the build- ing of good roads and bridges, the introduction of scientific methods of agriculture and cattle-breeding, afforestation, and the reclamation of waste lands. Unfortunately, such undertakings as these present no prospect of immediate profit for the individual and require for their prosecution vast capital and an administrative machinery which are not at present available to the State or its citizens. So long, however, as these essentials are lacking it appears to be inevitable that the economic development of the country should remain one-sided, that the process of watering the leaves and branches of the pagoda tree instead of its roots should continue-that aeroplanes should come be- fore roads, and that spindles should be multiplied while the improvement and extension of cotton cultivation are allowed to lag. It is true that motor roads have been con- structed in the far North and that regulations for the building and upkeep of roads throughout the country have been promulgated by the Government. It is also true that something has been done in the way of improving the cultivation of silk, tea, cotton, and other products by the private enterprise of merchants and others in- terested in the trade in these staples and by the efforts of enlightened officials here and there. But it cannot be too strongly emphasised that the vast agricultural and mineral resources of the country, which constitute the foundation of its future strength and independence, lie to a great extent wasted or untouched. Yet it is on the intelligent development of these that the success and continued prosperity of the industries now springing up like mushrooms all over the country will ultimately depend.
Value in Silver and Sterling of the Foreign Trade of China, 1892 to 1919 :-- Year. Average Exchange.
Imports.
s. d.
Hk. Tls.
£
Exports. Hk. Tls.
ន
1892 1893 1894
...
...
...
...
1895
...
...
...
1896
...
1897
1898
1899*.
...
1900+...
+ MMN NM m
4 4+
140,298,086
30,544,061
102,583,525
22,333,288
3 111
149,928,703
29,517,212
116,632,311
22,961,986
3
3
234
3 28 163,897,525 26,206,530
128,104,522
20,483,379
31
172,853,145 28,268,688
143,293,211
23,434,411
209,106,866 34,851,143
131,081,421
21,846,903
2 111
2 102
3
3
204,554,227 30,470,055 217,761,975 280,907,296 223,791,888
163,501,358 24,354,889
31,416,701 42,282,402
159,037,149 22,944,422
195,784,832
29,469,696
34,734,365
158,996,752
24,677,621
* Influence of railways felt.
+ Boxer outbreak.