Directory_and_Chronicle_1934 — Page 403

CHINA.

A 7.

churian ports and Dairen amounted to only 11.8 per cent. of the whole value of China's export trade during these six months. The very great importance of Man- churia's contribution to China's export trade to foreign countries is strikingly exhibited by these percentage figures. To visualise the full effect of such a loss on the country's balance of trade, all that need be done is to subtract the value of Manchurian imports and exports for the last three years from the figures given in the table at the head of this article, when the following table would result :-

Imports (excluding Manchurian Trade) Exports

>>

Total

Excess of Imports

(Excluding Manchurian Trade)

"2

1930 Million Hk. Tls.

1931 Million

Hk. Tls.

1932 Million Hk Tls.

1,106 ·

1,285

978

606

587

365

1,712

1,872

1,343

500

698

613

showing clearly, in comparison with the former table, what an asset the Manchurian trade was to China. Excluding that trade the decline in imports during 1932 was ap- proximately 24 per cent. while exports declined by 38 per cent. and the total foreign trade by 28 per cent.

DIRECTION OF TRADE.

The following table shows the direction of China's foreign trade for the years 1931, and 1932 and her balance of trade in merchandise with each of the countries listed :-

The Direction of China's Foreign Trade

In thousands of Haikwan taels (000 omitted)

NET IMPORTS.

NET EXPORTS.

COUNTRY.

1931.

1932.

1931,

1932.

Hk. Tls. Hk. Tls.

Hk. Tls. Hk. Tls.

Australia

1932. Excess of Imports. Exports. Hk. Tis. HE. Tls.

61,074

40,649

1,412

1,124

39,525

Belgium-Luxemburg

30,259

13,699

British India

1,170

4,074 {

2,759

10,940

1,170

84,989

65,338

Canada

18,118

21,540

43,798

22,572

16,590

Cuba

3,736

2,191

14,399

444

26

18

Denmark

·26

312

286'

Formosa

2,623

1,437

1,151

5,475

2,509

France

15,677

7,089

4,580

21,420

15,380

French Indo-China

31,111

22,817

7,437

11,364

Germany

52,197

2,394

2,512 49,685

83,168

Great Britain

71,615

23,138

29,831

41,784

119,341

118,681

Hongkong

64,526

37,561

81,117

218,170

57,786

Italy

118,312

75,473

17,687

19,383

13,827

Japan

8,746

3,741

10,086

284,912

Korea

145,795

219,279

107,483

38,312

10,069

Macao

3,573

29,631

19,866

16,293

4,463

2,665

3,575

Netherlands

2,341

321

13,493

8,735

Netherland India

49,528

8,445

290

54,201

58,586

New Zealand ..

12,987

5,480

53,106

160

121

Norway..

277

243

122

2,241

4,610

751

Philippine Islands

737

3,873

Russia and Siberia

3,918

2,389

8.313

6,401

4,012

24,565

15,961

Siam

54,657

24,382

8,431

·

4,863

39,891

Straits Settlements and F.M.S.

5,031

3,866

36,025

8,390

12,212

Sweden

15,916

8,413

3,799

4,735

Switzerland

4,435.

659

227

4,208

4,266

U.S. of America (incl. Hawaii)

3,197

142

402

2,795

320,266

Other Countries

268,416

120,205

59,938

208,478

14,973

8,918

31,640

36,310

27,392

Total:

1,433,489 1,049,247

909,476

492,641 556,606

In previous reports it has been necessary to issue a caution to the interpretation of this table, owing to the intervention of certain transhipping or distributing ports between China and the actual countries of origin and destination of cargoes, first in importance among these intervening places being Hongkong, and second, ports in Japan. In the case of imports, at any rate, this caution is hardly necessary any longer, owing to the introduction of the Consular Invoice system and of a standard application form which calls for a declaration as to country of origin or destination instead of merely the port of Shipment or discharge. This has already almost eliminated the direction-of trade difficulty in the case of imports from Hongkong, being the reason for the decline from 15.22 to only 5.51 shown above in the percentages credited to that island in respect of inward trade for the years 1931 and 1932 respectively. The percentages on the export side of the table have not been reduced