XN000022-1972-10-04 — Page 3

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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