Directory_and_Chronicle_1915 — Page 744

CHINA

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to market, but high prices were obtained for it, and great efforts are being made to provide accommodation for rafts and timber at Antung.

"Of all ports, Tientsin, with an increase of 31 million taels, as against 21 million at Shanghai and 19 million at Hankow, shows the greatest advance in trade value. Foreign imports at Tientsin and Chinwangtao increased by 46 per cent. and Chinese imports by 41 per cent.

That the increase in exports was comparatively small is attributed to the disorder north of Kalgan and in Kansu and the serious risk attending the transport of cotton and linseed from the far north. An excellent harvest is reported from this region. "Shantung yielded but indifferent crops, the foodstuffs being supplemented by con- siderable importations of Siamese rice. The trade of Chefoo was well maintained, showing an increase of nearly 3 million taels. The value of the Kiaochow trade was increased by nearly 43 million taels. The inauguration of a weekly service of steamers, under the auspices of Messrs. Butterfield & Swire, between Kiaochow and Canton, via Shanghai and Hongkong, and the opening of branches of the Yokohama Specie Bank, the Hongkong and Shanghai Bank, and the Chartered Bank demonstrate the progressive character of this port.

"It was on the Yangtze that the rebellion of 1913 broke out, and on the banks of that river most of the decisive fighting took place. Hence all the larger Yangtze ports, from Chungking to Chinkiang, attribute to the civil war a depressing influence on their trade. Business was more or less suspended for periods varying from one to two months, and the surprising thing is that only two out of the 10 ports included in this section, namely, Kiukiang and Wuhu, show a decline of trade value, and that on the whole section there is a gain of some 16 million taels. Moreover, Kiukiang would not have declined but for the cessation of its opium trade, nor Wuhu but for the same reason, coupled with the abundance of Siamese and Tonkin rice, which undersold the produce of Anhwei in its traditional markets. Rice crops were reported very good in Szechwan and Hunan, inferior in Hupeh, satisfactory in Anhwei. Beans, wheat, and cotton turned out badly in the Hankow region. Throughout the section, as elsewhere, the political unrest and the dangers of trade routes appear to have kept back exports, while the difficulties of inland exchange, the currency chaos, and the depreciation of paper money were all accentuated. The drying up of the Grand Canal, in consequence of the prolonged drought in the latter part of the year, caused a serious diversion of cargo, hitherto shipped from Chinkiang, to the Tientsin-Pukow Railway and to Tsingtau. The Pingsiang coal mines and the Han- yang Ironworks, which had been more or less idle since the revolution, both resumed work during the year.

"At Shanghai the net foreign imports exceeded the 1912 figures by 25 million taels' or some 35 per cent., distributed in fairly equal proportion over the main headings of opium, piece goods, metals, and sundries. Stocks of piece goods at the end of 1913 were not, however, greatly in excess of those at the end of 1912, showing the importance of what may be called local consumption. Net Chinese imports decreased by nearly 6 million taels, the quantities of rice, raw cotton, raw silk, and sugar retained in the district having been smaller.

"An increased export and higher values of raw silk and silk piece goods added nearly 5 million taels to the value of the Soochow export trade, but that of Hangchow declined by 24 millions, the silk trade of that port having returned to nearly normal grooves after the sharp rise in the exports of raw silk in 1912. The crops of cotton, tea, wheat, and rice were good in this central district, comprising the ports of Soochow, Hangchow, Ningpo, and Wenchow,

"A great decrease in the importations of foreign opium at Amoy and a large demand at Foochow for rice and flour, both foreign and Chinese, notwithstanding very satis- factory harvests in the province, are the chief features in the import trade of the Fukien ports. The foreign trade in tea at Foochow has further declined, but there has arisen a new and extensive demand for Foochow leaf in North China.

"The trade of the 11 ports in Kwantung and Kwangsi shows an increase of some 25+ million taels over each of the two preceding years and approximates closely to the total of 1910. Canton was a storm centre during the revolt, piracy continued unchecked in the delta, interfering greatly, with the junk trade, and the provincial notes were quoted by the end of the year at 40 per cent. discount. The result of the year's trade in the face of such conditi ns is evidence of the essential prosperity of the two provinces and of the abstention of the community from participation in political disturbances. The crops of Kwangtung were good, but those of Kwangsi were damaged by floods.

The whole value of the trade (excepting only re-exports abroad of foreign imports) is Hk. Taels 1,149,513,462, consisting of net foreign imports, direct and coastwise, Hk. Tacls 570,064,611, and Chinese exports, both abroad and coastwise, Hk. Taels.