3
MY
Wednesday, October 4, 1972
TREMENDOUS GROWTH OF HK'S LIGHT INDUSTRIES IN LAST DECADE
Hong Kong's light industries have shown a tremendous growth during
the past decade, with the value of domestic exports jumping by a spectacular $10,883 million from 1960's $2,867 million to last year's $13,750 million.
The total work force engaged in these industries has more than
doubled during the same period, rising from 224,400 to 564,370.
And the number of factories is yet another proof of the phenomenal
growth, soaring to 18,612 last year which is over three times more than
the 5,346 in 1960.
This rapid industrial development has already given rise to new
townships such as Tsuen Wan, Kwai Chung, Kwun Tong and San Po Kong.
The industries, which have developed in scope, scale and sophistication,
are those whose products have been able to withstand international competition
without subsidy or protection, and those which are geared to servicing
the manufacture of such products.
Skills in marketing techniques, plus highly developed banking,
insurance and shipping systems inherited from the historical 'entrepot era,
have advanced the development of manufacturing industries which are the
mainstay of the economy.
Among those industries which have displayed dramatic growth are the eleotropics, plastics, wigs, and watch and clock (including metal watch
bands) industries.
The electronics