30003/129
Telegram from the Governor of Hong Kong to the Secretary of EPI
State for the Colonies.
Dated 6th January.
(Received Colonial Office 12.1 p.m.6th January, 1927)
G.23989/25
Capy to EO.
10
w.0
DOT
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тро
Air Meis
My telegram of 30th December trade situation.
There is a general feeling that prospects for Hong Kong
trade are more hopeful; but approach of Chinese new year
settlements discourages new business and distribution of heavy
stocks cleared on first raising of boycott is still very
seriously impeded by brigandage also business in piece goods is
temporarily upset by a dispute here between Compradores of large
importing houses and dealers guild regarding a proposed increase
in formers commission to cover the enhanced risks. On the
other hand activities of boycott organisations are reported to be
no longer taken seriously by merchants and unless increasing
truculence of labour results in open communistic regime a
definite improvement is hoped for after Chinese new year.
Settlement on that occasion causes no anxiety in Chinese
business circles here and money is comparatively cheap. Property
in central business areas has returned 90% boom values though
slump continues in others. It must be remembered that improve-
ment (in) Hong Kong may be counter balanced by loss elsewhere,
the strainhaving in no way abated but only shifted its
incidence.
Swatow; very little interference with trade now remains and
emigration traffic is brisk. British vessels get their share.
Inspector General of Customs has issued instructions that
Nationalist flag should on 1st January replace republic flag on
all shore property of Chinese customs in ports definitely under
control of Nationalist Government. Instructions do not apply
to floating property which alone flies a distinctive flag in
Hong Kong territory.