HONG KONG ANNUAL REPORT, 1954
Principal of the University of London, increased the recurrent annual grant to the University from $1 million to $4 million and in addition approved a capital grant of $3 million.
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A link with the Colony's past history was almost severed this year when the reclamation of nine acres of land on the waterfront of the Central District of Victoria terminated the active life of the old Queen's Pier. The pier itself has yet to be demolished but despite its rather ponderous archway many residents will regret the pass- ing of this structure where more than half of the Governors of the Colony, and many distinguished visitors, have first stepped onto Hong Kong soil. Two other reclamations of a rather different character were approved during the year and the familiar work of winning back the land from the sea has already begun on one of them. The first is the reclamation of a pro- montory over 1 miles long by 800 feet wide projecting into Kowloon Bay to take a runway which will enable modern types of aircraft to operate in Hong Kong by day and night. This bold step will enable Hong Kong to attain in air communications that same high reputation that its magnificent harbour holds in sea communications.
The second important scheme is a large reclamation at Kun Tong on the north eastern side of the harbour which is to be used for industrial sites. In recent years Hong Kong has had to rely much less upon its old staple, the entrepôt trade, and much more upon its own resources of labour and initiative in order to make a living. This has been achieved by a very remarkable expansion of the manufacturing industry, and whereas
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