INDUSTRY AND TRADE
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aluminium sheets and circles, most of which are used for the manufacture of consumer goods. Although some rods and bars are shipped abroad, principally to South-East Asian countries, the steel mills rely heavily on domestic sales which have suffered from the decline in the building industry. For some time the industry has had to face severe competition from imported bars and rods selling at low prices; and, as a result, many mills are operating at reducing capacity. All available data seems to indicate that the capacity of the industry considerably exceeds existing and future probable demand and that it will need to contract to achieve economic viability.
Hong Kong's separation from its principal markets and lack of indigenous raw materials are among the factors which have produced a concentration of resources on light industry, while heavy industry has developed only where a domestic market was available._ =
In similar fashion, the expansion of light industry has stimu- lated the manufacture of machinery and parts. Hong Kong-made machinery built originally for domestic industry is now exported to many overseas markets. Of particular importance are plastic blow moulding and injection moulding machines, power presses, lathes and planing machines.
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Aircraft engineering is another important industry; one large establishment provides maintenance and repair facilities for most airlines using Hong Kong Airport. Facilities are available for complete airframe and engine overhaul, and work has been received from countries as far afield as Australia and Canada.
LAND FOR INDUSTRY
Government land development programmes include the provision of land for industrial use. At Kwun Tong 641 acres have been provided of which 154 are solely for industrial use. At the end of the year 642 factories were already operating, employing 63,000 workers or over 14.7 per cent of Hong Kong's industrial work force. At Kwai Chung a substantial area of land has already been formed and a number of new factories are already in operation in the northern part of the town. The opening in October of a new coastal road between Lai Chi Kok and Kwai Chung should influence