HONGKONG.
ANNUAL GENERAL REPORT FOR 1924.
PREFACE.
The Colony of Hongkong is situated off the south-eastern coast of China between latitude 22° 9' and 22° 17' N. and longitude 114° 5' and 114° 18′ E. The island is about 11 miles long and 2 to 5 miles in breadth, its circumference being about 27 miles and its area 283 square miles. It consists of an irregular ridge of lofty hills rising to a height of nearly 2,000 feet above sea level, stretching nearly east and west, with few valleys of any extent and little ground available for cultivation.
The island, then desolate and sparsely inhabited by fishermen, was ceded to Great Britain in January, 1841; the cession being confirmed by the Treaty of Nankin in August, 1842; and the charter bears the date 5th April, 1843. All that part of Kowloon peninsula lying South of Kowloon Fort to the northernmost point of Stonecutter's Island together with that island was ceded to Great Britain under the Convention signed at Peking in October, 1860, and under the Convention signed at Peking in June, 1898, the area known as the New Territories including Mirs Bay and Deep Bay was leased to Great Britain by the Government of China for 99 years.
The area of the New Territories and Islands is about 345 sq. miles.
Trade gradually developed as China became accustomed to foreign intercourse and it increased greatly owing to the opening of the Suez Canal. It now stands at about 200 million pounds sterling per annum.
Large local banking, dock, steamboat, and insurance companies were established between 1865 and 1872, and their numbers are being continually added to.
The Colony is the centre of an incessant flow of Chinese emigration and immigration.
GENERAL OBSERVATIONS.
The land boom which had been so marked a feature in recent years continued during the early months of the year, declining steadily thereafter. Rents, however, showed no signs of dropping or ceasing to rise in cases where the Rents Restriction Ordinance did not apply, and the Ordinance was, therefore, kept in operation for a further period of twelve months.
At the British Empire Exhibition at Wembley, Hongkong was represented, Mr. E. R. Hallifax, C.M.G., C.B.E., being the Commissioner. The results were quite satisfactory, the wares of Hongkong being brought to the notice of the public in England, and a fair number of orders being received. It was decided that Hongkong should again participate at the second year of the Exhibition.