7
21. There is very little to report on goods traffic. Chinese Government restrictions have continued throughout the year and importers have experienced exceptional difficulties in obtaining permits for entry of goods into China. The result has been only small infrequent consignments. Railway material for the Canton- Hankow Line has also declined.
22. Revenue from parcels traffic conveyed by the through expresses totalled $55,307.79.
23. Local goods traffic shows little change from last year, tonnage and revenue are only slightly less and the type of goods carried-farm produce, pigs and poultry etc.-is very much the same as last year.
24. Details of local and foreign goods traffic are as follows:-
FOREIGN.
1947/48
Up
Down
1948/49
104,160 Tons
14,051
""
Up Down
67,844 Tons
8,795
""
118,211 Tons
76,639 Tons
Revenue
.....
$586,385
Revenue
$238,768
LOCAL.
1947/48
1948/49
Tons..
Revenue
4,008 $32,249
Tons
3,457
Revenue .....
$30,846
RATES AND FARES.
CC
25. Local rates and fares and up rates and fares to the Chinese Section have remained unchanged. With the introduc- tion of the non-stop train in January, a new Special Class" fare was fixed at $18.50 for single journeys between Hong Kong and Canton.
26. The Chinese National Currency continued to fall and in an attempt to get some kind of stability the Chinese Govern- ment introduced a new currency, Gold Yuan, as from August 26th, 1948. The rate of exchange was fixed at one Gold Yuan to HK$1.25, but this exchange rate was very short-lived for in The new October the Gold Yuan had dropped to HK$0.50. currency continued its decline until the end of the year. following details give some idea of the trend of Chinese currency in respect of passenger fares from Canton:
The