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METALS AND MANUFACTURES THEREOF.
THE MARKET.
118. In 1929 the total imports under this heading were £20 million, of which Great Britain took 14 per cent.
£8.5 million were metal, raw and shaped, of which Great Britain took 12 per cent.
£4.5 million were machinery, of which Great Britain took 32 per cent.
£3.5 million were for transportation, of which Great Britain took 7 per cent.
£2.5 million were for domestic applications, of which Great Britain took 12 per cent.
119. The market for which this £20 million worth of imports are required may be conveniently considered under six main heads-
(a) Transportation.
(b) Public Utilities.
(c) Agricultural Development.
(d) Mining and Metallurgy.
(e) Industrial Applications,
(Domestic Uses.
Further (a) needs sub-division into :-
(i) Railway Construction.
(ii) Rolling Stock.
(iii) Road Construction.
(iv) Motor Cars.
(v) Harbours and Waterways.
(vi) Water Transportation.
(vii) Aviation.
(b) needs the following sub-divisions
(i) Electricity Supply.
(ii) Water Supply and Sanitation.
(iii) Communications.
(iv) Fire Prevention.
(v) Arms and Armaments.
(f) may be sub-divided into :----
(i) Building Construction.
(ii) Building Equipment.
(a) Transportation.
RAILWAY CONSTRUCTION,
120. That the railways of China, totalling 8,750 miles, are quite inadequate for proper development is recognised by all. The Chinese Ministry of Transport recognises it, demanding an
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immediate construction of 6,000 miles of new line, to be com- pleted in six years. Even this programme is considered conserva- tive by those who support Dr. Sun Yat Sen's programme of 2,000 miles a year for 50 years. Of the mileage actually available the physical condition is very poor and much expenditure will be required for rehabilitation. Further construction is essential but at present is quite held up for financial reasons. The State Railway Department is heavily in debt and will have to liquidate its position to restore its credit. Owing to the necessity of doing this, it is probable that the 6,000 miles construction programme will have to be halved. It is proposed to pay for the construction work in bonds based on security of the returned 1900 Indemnity and an allocation from the customs surplus.
121. The situation with regard to railway construction in Manchuria is distinctly different from the situation in the rest of China. The money required for the construction of Chinese railways in Manchuria is collected by the Chinese locally. The Governor, the Bank of the Province, all important personages interested in the development of the district to be served by a new railway agree to participate in the formation of a company. During the construction period and before the receipt of money from the shareholders, the Provincial Bank is prepared to advance money to the Administration of the Railway. The finance of these pro- jects generally involves credit terms on the part of contractors but, so far, experience has been satisfactory.
122. There is a national fervour to increase as much as possible transportation in Manchuria over Chinese owned and built lines. While therefore, there are at present two Japanese lines 758 miles, one Sino-Russian line 1,969 miles and nine Chinese lines in Manchuria totalling 1,224 miles, there are proposals on foot for fifty-five railway projects totalling 10,700 miles, many of which are essential to the industrial and agricultural development of the country.
These proposals are all under consideration by a commission of communications at Mukden and will receive the support of the Government officials and rich Chinese when approved.
Owing to the fall in silver and the low price of soya beans, much of this development is held up, but with any improvement in conditions, construction will again become active and provide considerable openings for import of materials.
123. It will be clear from the urgent need for rehabilitation and new construction that a large trade not only in plant but in the other numerous requirements of railway construction is imminent. But close pricing and financial accommodation are indicated.
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