E 7.
any silver coin minted in China, and on the 9th November, 1935, the Government prohibited the export of any British dollars, Mexican dollars, Hong Kong subsidiary silver coin or silver bullion from this Colony to any country or place. The effect of these two regulations is that there is now an embargo on the export of silver from Hong Kong with the exception of silver coins minted in China. These two regulations preceded the adoption by Hong Kong on the 5th December, 1935, of what is generally known as a managed currency.
On 22nd November the Superintendent of Imports and Exports was authorised by the Governor in Council to exercise in Hong Kong the powers of the Commissioners of Customs and Excise under the Treaty of Peace (Covenant of the League of Nations) Order, 1935, which prohibited the import from, and export to, Italian territory of certain goods.
In this connection amendments were made to the regulations made under the Registration of Imports and Exports Ordinance, 1915.
IX.—TRADE STATISTICS.
Although the visible trade of the Colony, measured in terms of local currency, declined by 14.2% in the year 1935 as compared with the year 1934, and 29.6% as compared with the year 1933, there was not a corresponding decline in the number of documents dealt with by the Statistical Office. During the year 1935, 566,517 declarations were received, and checked against 41,718 vessels' manifests, as compared with 579,787 declarations and 40,175 manifests in 1934; and 586,046 declarations and 47,016 manifests in 1933. The number of declarations received declined by only 2.3% as compared with 1934, and 3.3% as compared with 1933. The number of manifests which were received of ocean-going vessels increased from 12,173 in 1934 to 13,323 in 1935; river vessels from 11,533 to 11,764 and junks from 16,469 to 16,631.
During the latter part of 1934 legal proceedings were taken against several firms in the Colony for failing to declare their imports and exports within the required period, and it is pleasing to record that the improvement noted in this respect immediately following the prosecutions was sustained during 1935.
There was an increased demand for the Hong Kong Trade and Shipping Returns during the year, and also an increase in the number of firms requiring special statistical information: fees charged for the latter increased by 38.4% in 1935 as compared with 1934.