HONG KONG ANNUAL REPORT, 1953
Railways
Kowloon is the southern terminal of a railway system extending to Hankow with connexions to North and East China. The British section of the line, which is owned by the Hong Kong Government, is operated between Kowloon and the frontier, a distance of 22 miles. Through services were formerly operated to Canton and to the north, but since October, 1949, when the Chinese People's Government took over the administration of China, through passenger train services have been suspended. All passengers proceeding to and from China are now obliged to change trains at the frontier. For a time, it was also necessary to off-load all goods traffic, but since the latter half of 1950, goods traffic in wagon loads has been passing to and from Chinese territory without transhipment.
Total revenue for the year 1953 amounted to $5,982,540, operating expenditure being $4,260,040, leaving a net operating revenue of $1,722,500. The corresponding figures for the previous year were $5,601,419, $4,563,579 and $1,037,840 respectively. Capital expenditure was $886,241.
Passengers carried within the territory of Hong Kong were 3,457,835 or 86.57% of the total carried. Passengers to and from the frontier station of Lowu numbered 535,167, the greater proportion of whom travelled between Hong Kong and China.
The future prosperity of the railway depends on a relaxa- tion of the trade and travel restrictions now in force between the Colony and China, but an increased profit could be made as a result of the post-war development and increase in popula- tion of the Colony and New Territories if operating costs could be reduced. These are high owing to the large increase in the price of fuel, materials, wages, etc., which are, in many cases, five to six times those prevailing before the War, while fares are only twice those in force in 1939.
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