The importance of Hong Kong has grown with the increase of China's trade with foreign countries. It is now in respect of tonnage entered and cleared one of the largest ports in the world. It is the most convenient outlet for the produce of South China as well as for the incessant flow of Chinese emigration to the Netherlands East Indies, Malaya, and elsewhere. It is also the natural distributing centre for imports into China from abroad.
The Colony is not to any extent a manufacturing centre, its most flourishing industries being those connected directly or indirectly with shipping, such as dock and warehouse, banking and insurance undertakings.
The climate of Hong Kong is sub-tropical, the winter being normally cool and dry and the summer hot and humid; the seasons are marked by the prevalence of the S.W. monsoon in summer and the N.E. monsoon in winter. The temperature seldom rises above 95° or falls below 40°. The average rainfall is 83.14 inches, May to September being the wettest months. In spring and summer the humidity of the atmosphere is often very high, at times exceeding 95% with an average over the whole year of 77%. The typhoon season may be said to last from June to October though typhoons occasionally occur before and after this period.
The rainfall for 1929 was 69.82 inches and for 1930 96.08 inches of which 28.24 inches fell in September. The mean temperature of the air was 72°.4 against an average of 71°.9. The maximum wind velocity was 83 m.p.h. from E.S.E. on July 24th, when a typhoon passing near Macao produced a strong gale at Hong Kong.
The currency of the Colony is based on silver and consists of the British dollar of one hundred cents.
Bank notes issued by the Hong Kong and Shanghai Bank, the Chartered Bank of India, Australia and China, and the Mercantile Bank of India are also in circulation, together with silver subsidiary coinage of the value of 5, 10, 20 and 50 cents, and one cent pieces in bronze. The average rate of exchange of the dollar during the year was 1/4.36.
I.-General.
At the close of the year 1929 the accounts of the Colony showed a surplus of $9,662,852 and the balance at the end of 1930 was $9,361,680. Thus the year's working resulted in a deficit of $301,173 which was due to the abnormal financial conditions ruling in 1930. The steady depreciation of the sterling value of the dollar from 1/6.83 in January to 1/1.69 in December added to the difficulties of the situation.
In the neighbouring provinces desultory fighting continued throughout the year between the Cantonese forces with their base at Wuchow and the various Kwangsi factions with their headquarters
The importance of Hong Kong has grown with the increase of China's trade with foreign countries. It is now in respect of tonnage entered and cleared one of the largest ports in the world. It is the most convenient outlet for the produce of South China as well as for the incessant flow of Chinese emigration to the Netherlands East Indies, Malaya, and elsewhere. It is also the natural dis- tributing centre for imports into China from abroad.
The Colony is not to any extent a manufacturing centre, its most flourishing industries being those connected directly or indirectly with shipping, such as dock and warehouse, banking and insurance undertakings.
The climate of Hong Kong is sub-tropical, the winter being normally cool and dry and the summer hot and humid; the seasons are marked by the prevalence of the S.W. monsoon in summer and the N.E. monsoon in winter. The temperature seldom rises above 95' or falls below 40°. The average rainfall is 83.14 inches, May to September being the wettest months. In spring and summer the humidity of the atmosphere is often very high, at times exceeding 95% with an average over the whole year of 77%. The typhoon season may be said to last from June to October though typhoons occasionally occur before and after this period.
The rainfall for 1929 was 69.82 inches and for 1930 96.08 inches of which 28.24 inches fell in September. The mean temperature of the air was 72°4 against an average of 71°9. The maximum wind velocity was 83 m.p.h. from E.S.E. on July 24th, when a typhoon passing near Macao produced a strong gale at Hong Kong.
The currency of the Colony is based on silver and consists of the British dollar of one hundred cents.
Bank notes issued by the Hong Kong and Shanghai Bank, the Chartered Bank of India, Australia and China, and the Mercantile Bank of India are also in circulation, together with silver subsidiary coinage of the value of 5, 10, 20 and 50 cents, and one cent pieces in bronze. The average rate of exchange of the dollar during the year was 1/4.36.
I.-General.
At the close of the year 1929 the accounts of the Colony showed a surplus of $9,662,852 and the balance at the end of 1930 was $9.361,680. Thus the year's working resulted in a deficit of $301,173 which was due to the abnormal financial conditions ruling in 1930. The steady depreciation of the sterling value of the dollar from 1/6.83 in January to 1/1.69 in December added to the difficulties of the situation.
In the neighbouring provinces desultory fighting continued throughout the year between the Cantonese forces with their base at Wuchow and the various Kwangsi factions with their headquarters
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