INDUSTRY AND TRADE
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almost no raw materials, Hong Kong's claim to originate its manufactures rests on the work done in processing imported materials, or their transformation into entirely new products. During 1958 the Commerce and Industry Department continued to take pains to ensure that goods which it certifies as of Hong Kong origin warranted that designation.
Except in the case of exports to the United Kingdom, the Department also issues Imperial Preference Certificates for exports claiming entry at preferential rates into those Commonwealth countries which grant preference to Hong Kong. They certify the proportion of Commonwealth content in the goods they cover and are based on cost statements prepared by public accountants approved for the purpose. In the case of the United Kingdom, the accountants themselves issue the certificates and submit cost state- ments in support direct to H.M. Customs and Excise in the United Kingdom.
During 1958 the certification work of the Department continued to expand and the principles governing the issue of certificates of origin and Imperial Preference certificates were under constant review. The Department modified its practices and procedures wherever possible to expedite the issue of certificates and to simplify the handling of an increased volume of applications. Co- operation and liaison with overseas customs authorities proved beneficial in both the promotion and the control of certified exports. Exports of goods certified by the Commerce and Industry Department as of Hong Kong origin were valued at $465.4 million during 1958. Imperial Preference certificates covering goods (other than exports to the United Kingdom) to the value of $132.2 million were also issued.
An additional complexity arises from the need to preserve Hong Kong's trade with the United States in accordance with the United States Foreign Assets Control Regulations which prohibit the import of a range of products presumed to originate in mainland China or North Korea unless evidence is produced to the contrary. Procedures operated by the Department and designed to produce this evidence were expanded in 1958. Exports of 'presumptive' commodities were valued at over $230.6 million.
Statistics. The Statistical Office of the Commerce and Industry Department publishes monthly statistics of the quantity and value