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INDUSTRY AND TRADE
Australia, but domestic exports were also sent to practically every country in the world.
An indication of the size of the entrepôt trade may be gained from the value of re-exports, which totalled $1,160 million. This represented an increase of eight per cent compared with 1962. Although re-exports to China remained considerable, being valued at $62 million, it was only the fourth largest purchaser of re- exports. The first three were Malaysia, Japan and Macau. Chief commodities entering the re-export trade were gems and jewellery, textiles, medicinal and pharmaceutical products, sugar and sugar preparations, animal and vegetable crude materials and fruits and vegetables.
GROWTH OF INDUSTRY
Hong Kong's first industries were services allied to the develop- ment of the port and the earliest was ship-building and repairing. The first Hong Kong-built vessel was launched in 1843. Two sugar refineries were established in 1878 and 1882, not so much to satisfy the needs of the then small population as to meet the requirements of ships' victualling officers. In 1885 a rope factory was started, again primarily to cater for the seafaring trade, and a cement factory was transferred to Hong Kong from Macau in 1899.
From time to time there were efforts to set up new industries. Some were unsuccessful; a spinning mill was started in 1899 but closed down a few years later. Some industries, however, obtained a firm foothold. In 1902 the manufacture of rattanware began and in 1910 the knitting of cotton singlets and vests became established. Although these industries flourished they went more or less un- noticed amid the Colony's growing entrepôt activities. The first world war gave some impetus to the development of industry when the Colony was denied various manufactured goods from European sources and the immediate post-war years also saw some expan- sion. A weaving factory, operating 30 hand looms, was opened in 1922 and was followed five years later by the first flashlight factory.
The Ottawa Agreements of 1932, under which Hong Kong prod- ucts became entitled to Imperial (now Commonwealth) Preference, were the first real encouragement to Hong Kong industry, enabling manufacturers to seek wider markets for their goods and attracting