Directory_and_Chronicle_1934 — Page 844

Directories & Chronicles 香港指南 All

A434

CHUNGKING

Trade was not helped by all this turmoil, and the resulting disruption of means of communication, and of agricultural and industrial pursuits, the commandeering of commercial vessels, and the forced contributions levied in aid of the war chests of the conflicting parties. The value of direct foreign imports, however, increased slightly owing to a tendency on the part of merchants to take delivery and pay duty at Chungking instead of importing through their agents at Shanghai or Hankow. The object of this was to save on remittances to down river ports, the exchange rate being very much against Chungking throughout the year, due partly to general economic causes and partly to the manipulation of the local exchange association. The exchange factor was therefore unfavourable to the import trade in the matter of purchases from both down-river ports and abroad. On the other hand, this same fact should, and undoubtedly did, stimulate exports to some extent, but this section of trade, taking the combined figures for shipments abroad and coastwise, never- theless had a very lean year. The depression in foreign markets in general resulted in a lessened demand for silk, bristles, wool, skins, hides, etc.; while the depression in the Straits and Siam in particular affected the demand from Chinese settlers in these countries for one of the principal export staples of Szechwan, that is, medicines. The loss of markets in Manchuria and in the communist-infested areas of Anliwei, Hupeh and Kiangsi also affected exports of the latter staple. What was said in the last report regarding high taxation driving cargoes to other routes than those leading through down the Han River, and much of that from Yunnan and Kweichow found an outlet via Hunan instead of through Szechwan. In face of the generally dis- couraging figures for exports, the quite remarkable success of the trade in wood oil, one of the most important staples of the port, was very gratifying. Altogether, nearly 108,000 piculs of that commodity were shipped down river, a tenfold increase over the figures for 1931. The number of vessels entered and cleared during the year was 859 of an aggregate tonnage of 292,497, a decrease of 137 vessels and 89,010 tons, despite which, steamers often had to wait in harbour for days before obtaining remunerative cargoes. There were 23 shipping accidents in the gorges, of which at least four could be called serious and, of these, two caused the total loss of the ships concerned.

Directory_and_Chronicle_1934 — Page 844

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