The Commission held its first meeting in June 1935 but owing to absence of members from the Colony and temporary changes in Government personnel no further meetings were possible during the year.
# Chapter VI.
## PRODUCTION.
Hong Kong is the port for South China, and the greater part of the large volume of goods that pass through it is in transit between South China and other parts of the world, including North and Middle China. The Colony itself produces comparatively little, though the shipbuilding, cement, rope, tin and sugar refining, rubber shoe and cotton knitting industries are not unimportant. Neither agriculture nor mining is carried on to any great extent, though the former is practised throughout the New Territories. Rice and vegetables are grown, and there is considerable poultry farming, but in insufficient quantities to supply the needs of the urban populations of Victoria and Kowloon. The cultivation is in the hands of the Chinese villagers. Sea fishing is an important industry, but here again local supplies have to be augmented by importation from outside.
2. Reports on the principal industries for the year 1935 are given below:-
Refined Sugar.-Generally speaking 1935 witnessed an upward trend in world prices for raw sugar following the reduction in carry-over stocks and the more approximate balance of output and consumption following the severely restricted production. Refined sugar values naturally followed suit, but Hong Kong and China markets were slow in coming up to replacement costs. The severe floods in the Yangtsze valley and Yellow river areas in July aggravated the economic depression and financial stringency, and refined sugar as a relative luxury in China suffered some reduction in offtake. The extreme fluctuations in exchange rates and the political situation in North China, Manchuria and Mongolia, tended to restrict trade. The political situation is somewhat less tense at the time of writing and with the, at least relative, success achieved by the Chinese Government's currency measures the financial situation appears to be slightly easier, and prospects for the future are better than they have been for some time past.
Cement.-Business in Cement continued to be fairly brisk throughout the year despite trade conditions. Japanese importers did the bulk of the business at very low prices.
-15
The Commission held its first meeting in June 1935 but owing to absence of members from the Colony and temporary changes in Government personnel no further meetings were possible during the year.
Chapter VI.
PRODUCTION.
Hong Kong is the port for South China, and the greater part of the large volume of goods that pass through it is in transit between South China and other parts of the world, including North and Middle China. The Colony itself produces comparatively little, though the shipbuilding, cement, rope, tin and sugar refining, rubber shoe and cotton knitting industries are not unimportant. Neither agriculture nor mining is carried on to any great extent, though the former is practised throughout the New Territories. Rice and vegetables are grown, and there is considerable poultry farming, but in insufficient quantities to supply the needs of the urban populations of Victoria and Kowloon. The cultivation is in the bands of the Chinese villagers. Sea fishing is an important industry, but here again local supplies have to be augmented by importation from
outside.
2. Reports on the principal industries for the year 1935 are given below:-
an
Refined Sugar.-Generally speaking 1935 witnessed upward trend in world prices for raw sugar following the reduc- tion in carry-over stocks and the more approximate balance of output and consumption following the severely restricted produc- tion. Refined sugar values naturally followed suit, but Hong Kong and China markets were slow in coming up to replacement costs. The severe floods in the Yangtsze valley and Yellow river areas in July aggravated the economic depression and financial stringency, and refined sugar as a relative luxury in China suffered some reduction in offtake. The extreme fluctuations in exchange rates and the political situation in North China, Man- churia and Mongolia, tended to restrict trade. The political situation is somewhat less tense at the time of writing and with the, at least relative, success achieved by the Chinese Govern- ment's currency measures the financial situation appears to be slightly easier, and prospects for the future are better than they have been for some time past.
Cement.-Business in Cement continued to be fairly brisk throughout the year despite trade conditions. Japanese importers did the bulk of the business at very low prices.
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