572
CHINA
.
Year... Average Exchange.
Imports.
Exports.
8.
d.
Hk. Tls.
£
Hk. Tls.
£
1909
1910
2
417,586,237
54,264,460
338,992,814
...
2 8,
1911. 1912 1913$... 1914).
...
2
3
•
1915
1916
...
1917
1918
...
1919 1920
1921
***
462,437,260 473,517,685 471,809,192 72,000,048 570,064,696 86,103,508 546,425,219 74,564,285 454,475,719 516,406,995
62,260,433
380,833,328
44,051,410 51,273,653
63,628,938
377,338,166 50,700,286 370,520,403 56,544,517 403,305,546 60,915,191
345,280,874
47,116,943
58,939,820
418,861,164
54,321,457
86,767,390
481,797,36
78,820,556
4
31
31
6
4
549,518,774 118,633,090 554,893,082 146,670,958 646,997,681
462,931,630 99,940,188
485,883,031
128,430,019
204,882,600
630,809,411 199,756,313
6
93
762,250,230
258,847,474
541,631,300 183,928,963
3 11
906,122,439 179,100,763 601,255,537
118,841,915
It will be observed in this table that an increase in silver values does not always mean an increase in trade when measured in sterling.
It is interesting to compare the foreign trade of various nations per head of population (1912):—
£
S.
d.
£
S. d.
Netherlands
90
16 6
Belgium
67
15
0
Italy Rumania
7
8
6
19
4
Switzerland
35
17 6
Portugal
6
9
8
Denmark
29
15 }
Austria-Hungary
4
United Kingdom.......
29
10
Greece
11
France....
19
5
Spain
5
3
Norway
19
2
1
Bulgaria
3
10
Sweden
15
5 10
Servia
2
10 8
Germany
15
4
9
Russia
1
13
China's total trade per capita in 1921 was 14s. 10 d.
CUSTOMS REVENUE FOR 1921
The Maritime Customs revenue for 1921 amounted in round numbers to Hk. Tls. 54,500,000, which at the average exchange of 3s. 11 d. is equal to £10,772,265, and shows an increase of Tls. 5,000,000 on the previous record collection, namely in 1920.
It is to be noted, however, that, as the result of the drop in the average rate of ex- change from 6s. 93d. in 1920, the gold equivalent of the 1921 collection at the average exchange is over £6,000,000 less than 192).
The 1921 revenue from Native Customs under the control of the Inspector-General amounted in round figures to Hk. Tls. 4,500,000 (at the above average exchange equal to £889,453), showing an increase of Tls. 120,000 on the 1920 collection.
In addition to the above figures the sum of Hk. Tls. 4,500,000 was raised by means of a Surtax inposed for Famine Relief.
CUSTOMS REVENUE FOR 1922
The Maritime Customs revenue for 1922 amounted in round numbers to Hk. Tls. 58,600,000, which, at the average exchange of 3s. 9d., is equal to £10,997,500, and shows an increase of Hk. Tls. 4,100,000 on the previous record collection-that for 1921.
As a result, however, of the drop in the average rate of exchange from 3s. 117d in 1921 the gold equivalent of the 1922 collection is only £215,235 more than in 1921.
The 1921 revenue from Native Customs under the control of the Inspector General amounted in round figures to Hk. Tls. 4,300,000. (£806,250), an increase of Hk. Tls. 200,000.
All Foreign Loans and Indemnity obligations secured on the Customs revenues, including the service of the Reorganisation Loan, and all domestic loan obligations indirectly secured on the Customs collections, of which the loan service is under the management of the Inspector-General, were fully met.
I Revolution in October.
European war from August. § Rebellion in summer.
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