HONG KONG ANNUAL REPORT, 1954
undertaken by a very large number of small concerns situated in squatter settlements and tenement buildings. It is estimated that more than 200,000 persons may be employed in such domestic-type industries. The majority of industrial concerns are Chinese owned and operated.
No special benefits are available to industry by way of income tax or import duty concessions, although duty on locally brewed beer is less than that on imported beer. Apart from a few revenue producing duties, however, the Colony is a free port and Government regulation of trade is kept to a minimum.
All businesses are required to register with the Department of Commerce and Industry under the Business Registration Ordinance, 1952, and pay an annual registration fee of $200.
Heavy Industries
Hong Kong's development as one of the world's great ports rapidly gave rise to the shipbuilding and repairing industry. Today there are twenty shipbuild- ing and repair yards in the Colony, employing in all some 7,000 workers. These establishments are mostly small concerns handling wooden vessels, lighters, launches, ferries, yachts, and other small craft, and the industry is mainly centred on the Hong Kong & Whampao Dock Company Ltd., and the Taikoo Dock- yard & Engineering Company of Hong Kong Ltd., which together have an annual building potential of 80,000 gross tons. Up to date machinery and equip- ment enable these Companies to apply the latest
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