INDUSTRY AND TRADE

57

machinery, and transport equipment, and in exports the commodities chiefly responsible were, as indicated earlier, locally-manufactured textiles, clothes and footwear.

The principal imports from China to rise in value were foodstuffs, textiles, oilseeds and paper. The exports which fell off were chiefly dyes, medicinal products, and fertilizers.

The United States Foreign Assets Control Regulations continued to affect exports of local products, and additional items were released for export under agreed certification procedures.

The United Kingdom increased her imports of local products by 86% over the value figure for the previous year-75m. to $139.5m.-and was the best market for local manufactures. Indo-China, Malaya and Thailand also increased their purchases of Hong Kong products.

The principal local products exported, in order of value, were cotton piece-goods, cotton yarns, footwear, shirts, cotton singlets, enamelware and electric torches.

TRADE PROMOTION

Hong Kong's participation in the British Industries Fair proved to be the most successful since the Colony first took part in 1948. The number of enquiries received totalled 998 (350 more than in 1954), and covered most of the wide range of local products. 70% of the enquiries were from buyers in the United Kingdom.

A comprehensive Colony exhibit was displayed at the 8th Canadian International Trade Fair at Toronto, Hong Kong's first official participation in a fair in that country. The Hong Kong Chinese Manufacturers' Union sent dis- plays of local products to centres in South-East Asia, the most successful being a display organized in Singapore. The Hong Kong Junior Chamber of Commerce did some useful trade promotion by organizing a display at the Junior Chamber International 10th World Congress held in Edin- burgh in November, at which a young Hong Kong business man, Mr. A. de O. Sales, was elected World President of J. C. I. for 1956.

The Department of Commerce and Industry, through its Trade Division, has the prime responsibility of making the Colony's manufacturing and trading potentialities more

Share This Page