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TRANSPORTATION.
15. Through passenger traffic between the Colony and Chinese Territory has been heavy throughout the year, the number of passengers conveyed showing an increase of 51.67% over the previous period. Details are as follows:
Terminal Traffic between Kowloon and Canton.
1946/47
No. of Passengers
Up
Revenue
417,353 $ 921,918 Down... 526,644 1,066,709
1947/48
No. of Passengers
Up
Down ... 788,157
Revenue
765,282 $1,876,686 1,713,238
TOTAL... 1,553,439 $3,589,924
Revenue
TOTAL...
943,997 $1,988,627
Sectional Through Traffic.
No. of Passengers Up
Revenue
No. of Passengers
153,536 $ 246,816
Up
Down ...
160,725 260,042
Down
214,657 $ 355,039 140,320 227,444
TOTAL...
314,261 $ 506,858
TOTAL...
354,977 $ 582,483
16.
The increases are attributable to the reasons given in paragraph two of this report and the shortage of river shipping since the end of the war which has greatly reduced competition from this source. The new air service between the two cities has however affected first class travel, there having been a decline in the numbers of this class of passenger travelling by rail during the latter months of the year.
17. The number of local passengers increased by 371,282, the rise in revenue being $426,189. This was due to an improvement in the local train service which was brought about by the arrival of locomotives from Great Britain, by repairs and rehabilitation to rolling stock and the gradual re-population of the New Territories. First and second class accommodation was introduced in May and proved popular, there having been a steady increase in higher class travel.
In order to combat road competition, a bus service was inaugurated on the Taipo Road in October, the fares being by This agreement, the same as those charged by the Railway. service, which is an extension of a local bus company's franchise, had the effect of greatly reducing the numerous lorries which were operating on this road at cut rates when not licensed to do so. The result has been increased Railway Traffic while the Govern- ment also received royalties from the bus company for passengers carried. Total figures for local traffic are as follows:-
Passengers
Revenue
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1946/47
596,292
$530,610
1947/48
967,574
$956,799
18. Through goods traffic decreased compared with 1946/47. Details are as follows:
1946/47
1947/48
Up Down
182,923 Tons
1,313
Up Down
104,160 Tons
14,051
184,236 Tons
Revenue
$690,053
Revenue
118,211 Tons $586,385
The decrease was mainly due to the gradual lessening of U.N.R.R.A. supplies and the reduction in imports and exports passing to and from the interior via Hong Kong owing to the very stringent restrictions imposed by the Chinese Government. Another factor mitigating against normal trading was the con- tinuous drop in the value of Chinese National Currency in the course of the year. The exchange rate declined from C.N. $2,400 to the Hong Kong Dollar in April 1947 to C.N. $66,700 in March 1948. Down goods traffic increased compared with the previous year, but the tonnage was still small, being mainly confined to vegetables and farm produce. There was however some export of wood oil from the Changsha area, 2,295 tons arriving in the Colony in tank wagons.
19. Local goods traffic amounted to 4,008 tons only, revenue being $32,249. This consisted principally of small consign- ments of farm produce conveyed to Yaumati for the various Kowloon markets.
RATES AND FARES.
20. With the exception of a reduction in August of the first class fare from $26.40 to $22.00, all up rates and fares to the Chinese Section remained unaltered throughout the year.
21. Difficulties were, however, experienced over downward traffic as the rapid drop in the value of Chinese currency made frequent alterations to fares necessary. From November, 1946, all rates and fares between the two Sections have been based on the Hong Kong dollar, down fares being worked out on a trans- action rate at the average of the previous 15 days market rate of The exchange as quoted by the Bank of China in Hong Kong. decline of the Chinese dollar, however, necessitated the Chinese Section adding a 20% surcharge to their rate in December as the depreciation was often so rapid they were unable to collect sufficient monies in terms of C.N.C. to cover the payment of their share of revenue to the British Section in Hong Kong currency. The result was an increase in down fares in terms of Chinese currency from C.N. $63,900, C.N.$42,600 and C.N.$21,300 for first, second and third class respectively in April, 1947 to C.N.$1,468,000, C.N.$1,174,000 and C.N.$587,000 in March, 1948.
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