DAILY CHINESE PRESS SUMMARIES
Part II Translations
Thursday, July 24, 1969.
(A) EDITORIAL
The Textile Industry Facing New Crisis
WAH KIU YAT PO (24.7): The paper expressed its views on Britain's
decision to impose tariffs on cotton textiles which will come into effect on January 1, 1972.
"We have got two years in which to prepare ourselves and to overcome difficulties, "the paper said.
It suggested that the first thing we should do is to execute all the present orders to avoid any loss.
it said.
"Then, we should start revising our production and trade plans,'
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"In revising production plans, we must improve the quality of our products to beat those of our competitors such as Lancashire, United States and Japan. In this way, we will make our products more welcomed by the British people."
"Secondly, we must cut down production costs and avoid any increase in the price of finished products,"
As for the revision of trade plans, the paper opined that the main step is to look for new markets.
Lastly but not the least, it reminded the employers and workers in the textile industry to be more co-operative than ever during the crisis and to make a joint effort in overcoming the difficulties that lie ahead.
Tariffs On Cotton Textile Imports To Britain
SING TAO MAN FAO (23.7):
Also commenting on Britain's decision to impose tariffs on cotton textile imports, the paper advised local textile industry to improve the quality of their products and to maintain Hong Kong's reputation of producing goods of "fine quality at low prices."
"This is the only way to maintain Hong Kong's status in her trade with Britain," it said.
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