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India, and in view of the very disturbed conditions in that market a considerably decreased business was anticipated. The better class socks are mainly used locally and in Java and the Straits. The two last-named markets have been extremely depressed and the outlets up-country, particularly Kuangsi, have been partially closed. The trade in higher grade singlets has been distinctly good and the position leads one to believe that with more normal conditions of the East generally, this industry should develop appreciably.
Ginger. A dozen ginger-preserving establishments deal with the raw product which is imported from South China and supplied principally to Great Britain, Holland, the U.S.A. and Australia, to the extent of about £300,000 annually. Although the low exchange value of the Hong Kong dollar led to correspondingly low prices in terms of gold, the volume of trade during 1930 was no greater than in normal years, due principally to industrial depression abroad and the accumulation of stocks. An additional adverse factor as regards the London market was the large number of claims on shipments during the early part of the year.
Rope Making. There was a normal demand for locally manufactured rope during 1930, no special features being met with in this industry.
SHIPBUILDING.
Four ocean-going vessels, one coasting steamer, one river steamer and seventeen smaller craft were built in local dockyards during 1930.
IV.—Trade and Economics.
The steady decline in the exchange value of the Hong Kong dollar, due to the drop in silver values, greatly restricted imports in all lines during 1930, particularly during the first six months when demand was principally met by stocks imported during 1929 and earlier at more favourable exchange rates. Carry-over of stocks to next year is therefore negligible.
The buying season for Fancy Cotton Piece Goods, which usually opens about April/May was delayed until the end of July when, as exchange showed no sign of improvement, dealers began catering for Spring, 1931, requirements. Notwithstanding the low rate of exchange, an appreciable business was done, mainly owing to much reduced Lancashire costs offsetting to some extent the low exchange. The volume of business booked in woollens was much smaller than that of previous years, the falling off being most marked in the Shoddy and Mixture (Wool and Cotton) sections.
The decreased purchasing capacity of the individual consumer in China as a result of the decline in silver values has militated against the sale of many goods of British manufacture which are of better quality but more expensive than those of competitors.
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India, and in view of the very disturbed conditions in that market a considerably decreased business was anticipated. The better class socks are mainly used locally and in Java and the Straits. The two last-named markets have been extremely depressed and the outlets up-country, particularly Kuangsi, have been partially closed. The trade in higher grade singlets has been distinctly good and the position leads one to believe that with more normal conditions cf the East generally, this industry should develop appreciably.
Ginger. A dozen ginger-preserving establishments deal with the raw product which is imported from South China and supplied principally to Great Britain, Holland, the U.S.A. and Australia, to the extent of about £300,000 annually. Although the low exchange value of the Hong Kong dollar led to correspondingly low prices in terms of gold, the volume of trade during 1930 was no greater than in normal years, due principally to industrial depression abroad and the accumulation of stocks. An additional adverse factor as regards the London market was the large number of claims on shipments during the early part of the year.
Rope Making.There was a normal demand for locally manu- factured rope during 1930, no special features being met with in this industry.
SHIPBUILDING.
Four ocean-going vessels, one coasting steamer, one river steamer and seventeen smaller craft were built in local dockyards. during 1930.
IV.--Trade and Economics.
The steady decline in the exchange value of the Hong Kong dollar, due to the drop in silver values. greatly restricted imports in all lines during 1930. particularly during the first six months when demand was principally met by stocks imported during 1929 and earlier at more favourable exchange rates. Carry-over of stocks te next year is therefore negligible.
The buying season for Faney Cotton Piece Goods, which usually opens about April/May was delayed until the end of July when, as exchange showed no sign of improvement, dealers began catering for Spring, 1931, requirements. Notwithstanding the low rate of exchange. an appreciable business was done, mainly owing to much reduced Lancashire costs offsetting to some extent the low exchange. The volume of business booked in woollens was much smaller than that of previous years, the falling off being most marked in the Shoddy and Mixture (Wool and Cotton) sections.
The decreased purchasing capacity of the individual consumer in China as a result of the decline in silver values has militated against the sale of many goods of British manufacture which are of better quality but more expensive than those of competitors.
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