568
CHINA
The total carrying trade, foreign and coastwise, in 1921 was divided amongst the .different flags as under:
Entries and
Clearances
Tonnage
Values
Percentages Tonnage Trade.
British.
38,855
42,326,445 Tis. 1,282,205,950
36'93
38'99
.Chinese
139,520
31,791,479
""
893,525,102
27.74
27.17
Japanese.
25,385
31,738,783
19
793,709,562
27.69
24.14
American
5,516
4,5 10,901
"}
151,946,430
3.94
4.62
French..
1,240
1,221,758
"
66,892,007
1.07
2:03
Dutch
498
1,145,255
"J
29,507,197
100
0.90
Russian
1,915
Norwegian ...
587,886 >> 41,871,068
0.51
1.27
615
508,497
14,401,783
0'44
0'44
Other Countries
1,022
788,540
"
14,166,296
0'68
0'44
214,566
114,619,544
,, 3,288,225,395
100.00
100,00
The Maritime Customs revenue (including Famine Relief Surtax) for the same year amounted to Haikwan Taels 59,007,129, and was derived from :—
Import Export Coast T'de.
Duty. Duty. Duty.
Transit Famine Dues. Relief
T'nage. Dues.
Foreign .....Tls. 26,575,057 13,767,088 1,345,068
1,666,921
2,066,265
Surtax.
Native
2,018,953 5,121,305 985,003
177,448
739,534
Totals
28,594,010 18,888,393 2,330,071
1,844,369
2,805,799 4,544,485
The Native Customs Revenue (including Famine Relief Surtax) at nineteen coast and river ports for 1921 amounted to Hk. Taels 4,871,293.
Mr. J. W. H. Ferguson, Statistical Secretary of the Chinese Customs, in his annual report on the Trade of China says, inter alia:-
The year 1921 was generally a bad one for China and will probably prove to have been one of the worst experienced in the commercial history of the country. The trade depression described in last year's report had not yet run its course when the year opened; overburdened markets impeded the flow of imports; the unsettled state of large districts in the interior, coupled with extensive floods during the rainy season, restricted exports, which in turn curtailed the purchasing power of the country, as evidenced by the increasing difficulties experienced in disposing of stocks on hand. Importers found themselves saddled with enormous quantities of goods ordered when the post-war boom was at its height and which they found next to impossible to dispose of without heavy loss. The steadily declining price of silver, as expressed in the falling exchange rates, naturally had an important bearing on the course of trade in this silver-using country, but it did not materially assist exports, owing to the weak demand and declining prices in the Home markets, already glutted with Far Eastern products. This state of affairs persisted more or less unchanged during the first half of the year. Midsummer brought a more hopeful tendency. In spite of obstacles, clearances of old stocks proceeded steadily, notably where piece goods were concerned. Metals also moved more freely. Exports increased, silk from Shanghai and Canton showing the greatest activity. A demand sprang up for various other commodities, and signs of general improvement were not wanting, although progress was still very slow. At the end of the year it was evident that much hard work had been done in order to settle outstanding obligations, and although the so-called "frozen credits" had not yet been entirely eliminated and the banks still financed many firms unable to settle their indebtedness carried over from the last two years, the situation was then well in hand and presented a decidedly better aspect than had been the case for many months.
The revenue collected by the Customs again exceeded the previous year's record collection, the excess being some 4.6 million taels, in spite of the divers adverse factors decribed in the preceding paragraphs. An explanation of this seeming anomaly will be found elsewhere in the report, where the Customs revenue collection is dealt with.
Foreign Trade. The value tables of the foreign trade of China for 1921, covering as they do a period of exceptional difficulty, present features of special interest. The net value of the direct foreign trade during the year in merchandise (ie., treasure
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