REVIEW OF THE YEAR
Kong and ten more are under construction. Sixteen factories have been built in Thailand, five in Singapore and two in Japan. This development has disadvantages as well as advantages.
More information about Hong Kong's trade and expanding industries is given in the chapters on Com- merce and Production later in this report. The retail price index for all items (with March, 1947=100) fell ten points from 125 in December, 1953 to 115 in December, 1954. The following are comparative figures for the last years:
June September December
March
1951
117
119
121
120
1952
119
119
123
118
1953
115
119
130
125
1954
120
118
122
115
The rapid decrease in the last quarter of 1954 resulted from falls in prices of imported rice and from greatly improved supplies of other food-stuffs, mainly pork, poultry and eggs from China.
With one important exception there was little labour trouble during the year. The exception was the dispute between the Hong Kong Tramways Company and the Hong Kong Tramways Union which arose over the discharge of 31 workers who had become redundant as a result of technical reorganization in the Company. Batches of workers had been discharged on several occasions prior to this particular group but only formal protests from the Union had been received, it so hap- pened, however, that this group included the Chairman and Vice Chairman of the Union. A campaign of
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