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INDUSTRY AND TRADE
Ship-breaking and steel rolling mills. The ship-breaking industry, though still of major economic importance was not as active as in previous years, having found it necessary to cut back its activi- ties because of a general depression in world metal markets. In spite of this contraction, Hong Kong still maintains its position as one of the leading ship-breaking centres of the world. Among the ships which entered Hong Kong breaking yards during the year were such well known vessels as the Strathnaver (22,270 gross tons), the Canton (16,003 gross tons) and the American aircraft carrier Puget Sound (24,560 gross tons).
Much of the scrap obtained is used in local rolling mills, which produce an estimated 9,000 tons a month of mild steel reinforcing bars. This represents a large part of the requirements of the Colony's building industry and in addition a considerable quantity of rods and bars is shipped abroad, principally to south-east Asian territories. Several rolling mills produce stainless steel, brass and aluminium sheets and circles, most of which are used locally for the manufacture of consumer goods.
Other heavy industries. Among other heavy industries in the Colony, one which is increasing in significance is the manufacture of machinery and parts. Built originally for local light industries, Hong Kong made machines are now exported to over 70 countries. Of particular importance are plastic blow moulding and injection moulding machines, presses, seaming and planing machines. Air- craft engineering is another important industry. One large establish- ment provides maintenance and repair facilities for most airlines using Kai Tak Airport as well as for several national air forces. Facilities are available for complete airframe and engine over- haul, and work is received from 38 countries as far afield as Australia and Canada. The Colony also meets much of its require- ments for cement through local manufacture, the raw materials being imported with the exception of some clay and iron ore.
THE TEXTILE INDUSTRY
The textile and garment industry is the Colony's largest; it is also a dominant feature of Hong Kong's economy. About 123,670 workers, or 42 per cent of the total labour force in registered and recorded factories and industrial undertakings, were employed at the end of the year in the spinning of cotton, silk, rayon and