INDUSTRY AND TRADE
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flourish, in face of keen competition from all over the world, because of a high standard of workmanship, reasonable prices and early delivery dates. )
(Ship-breaking and Steel Rolling Mills. The rapid expansion of the ship-breaking industry during the previous two years slackened somewhat in 1960, because of the increased prices of ships for scrapping and the smaller Japanese demand for scrap, but Hong Kong remains one of the world's largest ship-breaking centres. Much of the scrap is still exported to Japan, but a substantial and increasing proportion is now used in the Colony's own steel rolling mills, which produce about 10,000 tons a month of mild steel reinforcing bars; this is approximately 65% of the requirements of the Colony's building industry.)A fair quantity of rods and bars is shipped abroad, principally to south east Asian territories. The ship-breaking industry has established itself in three main areas of the Colony which are all required for permanent development in the near future. Government is therefore making sites available for the re-establishment of this industry in Junk Bay.
There are also several rolling mills which produce stainless steel, brass and aluminium sheets and circles, most of which are sold locally for the manufacture of consumer goods.
Aircraft Engineering. One large establishment in the Colony provides maintenance and repair facilities for 44 airlines using Kai Tak Airport as well as for several national air forces Facilities exist for complete airframe-and engine overhaul, and work is received from twenty four countries as far afield as Australia, New Zealand and Canada.
Cement. The products of one large establishment meet much of the cement needs of the Colony's constantly expanding building industry. All the raw materials are imported, apart from some clay and iron ore.
THE TEXTILE INDUSTRY
Since 1948 the textile industry has become the Colony's major industry. Spinning of cotton, rayon, silk and woollen yarns, weaving, knitting, dyeing, printing, and finishing, and the manufacture of all types of garments and textile goods are carried on. The spinning