A 8
CHINA
managed currencies; and while these dealers may deem it justifiable enough for the country they are living in to protect its own industries, it is safe to say that they find it distinctly embarrassing when other countries reciprocate. In addition to these international difficulties, the production and transport of export produce was interfer- ed with for a time in North China by the Japanese invasion and in South China by the troubles in Fukien; while the provinces of Szechwan and Kiangsi were in a distur- bed condition during the whole year. However, internal trading conditions showed considerable improvement on the whole in comparison with previous years, and this resulted in better harvests of niost agricultural products.
The most general complaint was in connection with the unremunerative prices offering for all but a few exceptional exports, a complaint well substantiated by in- formation received from the Commissioners of Customs in the various districts, and by the National Tariff Commission's report on Shanghai market prices. It would appear that there are still more sellers than buyers in world markets, and that lack of confidence is still being shown in a general refusal to build up stocks as formerly was the custom. This led to trading in small parcels on a hand-to-mouth policy, which is particularly embarrassing in the case of seasonal produce that comes on the market in large quantities at a time.
Exports Direct to Foreign Countries.
In thousands of standard dollars (000 omitted).
1932.
1932.*
1933.
St. $
St. $
St. $
Raw Silk, cocoons, etc.
....
...
56,420
52,944
57,736
Cotton Yarn
...
29,815
25,758
40,007
Eggs, and products of ...
44,261
44,241
36,480
Tea...
....
38,579
38,578
34,210
Ores, metals, & minerals, & manfg. thereof... 21,524
13,757
32,366
Skins, hides, and leather,
...
29,227
27,423
31,920
Wood oil
...
ཐོའ་
23,161
23,161
30,261
Raw Cotton
Groundnuts, and products of
Silk piece goods ...
Seeds and seed cake t
32,180
32,171
30,229
37,493
32,999
23,666
24,476
24,432
20,789
19,598
14.387
18,838
...
...
Beans, and products of
Coal...
Cereals
124,177
€,755
5,044.
18,839
4.798
...
...
26,646
232
5,078 806
...
* Less exportations from Manchurian ports (including Dairen).
+ Exclusive of beancake and groundnut cake.
SHIPPING AND FREIGHT IN 1933
In the previous year a decline of 24.6 million tons was registered for the total of the shipping statistics for entrances and clearances at Chinese ports. This substantial decrease in the figures, in place of the increase normally recorded from year to year, was due to the effectiveness of the boycott measures against Japanese trade and shipping, and to the absence of the usual statistics for entrances and clearances at Manchurian ports (including Dairen) during the latter half of the year. As will be inferred from this statement, however, the 1932 statistics did include the shipping figures for Manchuria during the first half of the
this fact year and has to be taken account of in making comparisions between the returns published for 1932 and 1933 respectively. For the year under review, it will be found that entrances and clearances aggregated 137.4 million tons (of which 41 million tons were engaged in trade between China and foreign ports, while 96.4 million tons represented the domestic carrying trade) as against 135.4 million tons in 1932. If the tonnage credited to Manchurian ports in 1932 be subtracted from the statistics for that year, in order to obtain truly comparable data regarding arrivals and departures at the ports now included in the Returns, it will be found that the actual increase in the shipping trade of the country was from 132.4 million tons in 1932 to the already mentioned 137.4 million tons in 1933. In either case the increase is inconsiderable, amounting accord- ing to the last-quoted set of figures, to less than 4 per cent., but this small improve- ment does appear to indicate that China's importance to the carrying trade is not at
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