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CONFIDENTIAL
TRADE AND INDUSTRY
24. Hong Kong's prosperity prior to 1950 rested on the entrepot trade, principally with China. With the advent of
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In
a Communist Government in China this trade dwindled rapidiy and in its place industry has assumed a dominant role. 1949 Hong Kong's total trade (imports and exports) was £317m: in 1969 it was £2,011m. Since Hong Kong has to export to live it has long been the policy of the Government to maintain free entry for all goods from abroad other than a few items on which there is a tariff for revenue purposes,
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CONFIDENTIAL