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Trade in China was bad for the first six or seven months of the year but greatly improved during the latter half of the year.
Cement Manufacture.-Despite the importation of Cement from Europe and elsewhere, the demand for the local product continued strong throughout the greater part of 1923. Towards the end of the year, however, the accumulation of imported Cement had the effect of forcing prices down to a lower level, and with continual shipments of Cement arriving, the prospects for 1924 are not so favourable as they have been for the past 3 years.
Cotton-American Cotton fluctuate considerably during 1923.
The year opened with quotations from 157 to 151⁄2d per Ib. which before the end of January had reached 1637 per lb.
At the end of March prices had declined and during May were reduced to 14¦d.
June, however, saw a substantial advance, 17 being quoted,
The beginning of August registered the lowest value during the year i.e. 13.407,
Afterwards the market showed firmness and the price advanced to 18d in September, and reached the highest value of the year at the end of November i.e. 21.99d.
During December prices fluctuated between 181⁄2d and 213d and the year closed with quotations between 20 and 214d.
Rope Making.-The demand for Manila Cordage was fairly good throughout the year, and the total turnover shows an improve- ment on that of the previous twelve months. The demand from India was seriously affected by the political cry for preference to native goods, the enquiries from Barmah also fell off owing to the preference for Wire Rope on the oil fields. But on the other hand this was offset by a better demand from Japan.
(ii).—Under Chinese Management.
Chinese Paper. The exports-48,000 piculs--approximated closely to those of 1922.
Feathers.-There was a good demand during the first half of the year, and £166,000 worth were exported, principally to the United Kingdom.
Ginger-Exports amounted to £238,000 as compared with
€206,000 in 1929.
Hides, Returns are as follows:--
1923
1922
1921
piculs.
piculs.
piculs.
4,550
6,714
11,243
..46,130
58,642
54,911
200 2,672
2,120
6.254
1,388
615
Buffalo
Cow Goat Sheep
Continued trouble in the interior was responsible for a further falling off.
Mats and Matting.-The value of this commodity exported from the Colony during 1923 was $375,500, as against $600,000 during 1922.
Native Tobacco.-Exports again showed a decrease –£419,000. as compared with £471,000 in 1922.
Rattan and Fibre Furniture.-Values of exports closely approx- imated the 1922 figure of £165,000. The U. S. A. and the Straits Settlements were the largest buyers.
Soy. Prices during the whole year were about $23.50 per cask, with slight fluctuations and little demand from Europe. The U. S. A. absorbed half the output -£35,000 worth.
Tin.-The China Tin business in Hongkong was comparatively quiet during 1923.
Unpeeled Groundnuts.-Rather small quantities were shipped in the beginning of the year but the total exports for the year amounted in value to over £300,000,
Vermillion.-£109,000 worth was exported, as compared with £110,000 in 1922.
Wood Oil. The demand for this commodity from Europe and the United States of America was much better during 1923 thau in the previous year, and the prices obtained were on the average con- siderably higher.
The total exports to England and the Continent amounted to about 22,000 piculs, valued at £86,000, and about 53,000 piculs were shipped to America, valued at £198,000, which figures represent about seven times the total quantity shipped in the previous year.
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