My Lord,
L
沁
23018
375
Hongkong General Chamber of Commerce,
28 JUN 07
Hongkong, 14th May 1904.
I beg to inform you that it has been reported to the Hongkong General Chamber of Commerce that the question as to whether or not Great Britain shall continue to be a party to the Brussels Sugar Bounty Convention of 1903 is now under consideration by His Majesty's Government who may possibly, we are informed, decide to withdraw from the Agreement, notice of such withdrawal (if decided upon) to be given by the 1st September next.
As your Lordship is doubtless aware, the sugar refining business is an important, one of the most important, industries of this Colony, and a large trade is carried on in the importation of refined sugar into China and other neighbouring countries.
Hongkong being a duty-free port, there are no import duties paid on the raw material when arriving, or export dues on the refined sugar when exported, nor are subsidies of any kind granted to the local refineries, which are carried out by British capital entirely as ordinary industrial undertakings.
Prior to the signing of the Brussels Convention, the products of our local refineries had to enter into keen competition in all the markets in which they were interested, more particularly
THE RIGHT HONOURABLE
THE EARL OF ELGIN & KINCARDINE, K.G.,
H. M. SECRETARY OF STATE FOR THE COLONIES.