INDUSTRY AND TRADE
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made available for sale by Government during the past eighteen months, its price levelled off in the second half of 1970, indicating that the supply is keeping up with demand.
A large number of flatted industrial buildings commenced con- struction in 1969 and most of these were completed in 1970. This eased the shortage of factory space and contributed to a stabilising of industrial rents which were rising sharply earlier in the year.
Nearly all industrial sites in the townships of Kwun Tong and San Po Kong have now been developed. Heavy development is already occurring in the more distant and longer established township of Tsuen Wan. Some industrial land in Kwai Chung already sold still remains to be developed but it is believed that the impending construction of a container terminal at Kwai Chung will accelerate this development. Apart from some industrial land that will become available for development in Cheung Sha Wan and Kowloon Bay, the future for industrial expansion must lie largely in the New Territories, particularly in Castle Peak and Sha Tin,
EXTERNAL TRADE
External trade in 1970 advanced to a record level due to sub- stantial rises in domestic exports and imports of 17 per cent and 18 per cent respectively. Summary trade statistics, including a breakdown by countries and commodities and comparisons with previous years, are contained in Appendices 15 to 21.
Imports were valued at $17,607 million. Domestic supplies of agricultural produce and fish were substantial, but as most of Hong Kong's food-stuffs have to be imported, food was the principal item, valued at $3,051 million, representing 17 per cent of all imports. The chief items of edible imports were fruit and vegetables, rice and other cereal, live animals, fish and fish prepara- tions, meat and meat preparations, and dairy products and eggs. Raw materials and semi-manufactured goods for industry included textile yarn and fabrics, raw cotton, base metals and plastic moulding materials. Capital goods imported included machinery and transport equipment, while consumer goods and mineral fuels were also imported in large quantities.