Directory_and_Chronicle_1935 — Page 874

KOWLOON FRONTIER DISTRICT OF THE CHINESE MARITIME CUSTOMS

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This is the inclusive name given to the Chinese Maritime Customs stations adjacent to Hongkong and established in 1887 in accordance with the Chefoo Agreement of 1876 and its Additional Article of 1885 for the purpose of recording the movement of opium and of collecting duty on the trade carried on by Chinese junks between Hongkong and Chinese ports. In 1899, when the New Territory was taken over by Hongkong, the Customs stations were removed from their former locations, which had been brought within the British boundary, and the present stations are situated at Taishian, Lintin, Shumchün, Shatowkok, Shaüchung, and Samun (Tooniang), besides which there are a number of frontier patrol posts on the north shores of Deep and Mirs Bays and between the two bays.

TRADE IN 1933

Except for numerous cases of piracy, there were no noteworthy occurrences in the Chinese areas bordering on the Kowloon district. Direct foreign imports were valued at 96.6 million dollars as against 105.6 million in the previous year, and the value of exports of Chinese produce to foreign countries was 3.9 million dollars as against 3.3 million. The total value of the foreign trade was thus 100.5 million as against 108.9 million, showing a decline of nearly 8 per cent, all on the import side of the account, Of the principal imports, largely for use in the Canton area, the most interesting change that has taken place is in the types of mineral oil brought in during 1932 and 1933. Imports of kerosene, for instance, amounted to only about 5 million gallons in the year under review, as against 12 million gallons in 1932 and 14 million gallons in 1931; while imports of fuel oil reached a quantity of approximately 98,000 tons during the year under review, as against only 54,000 tons in 1932 and 44,000 tons in 1931. This remarkable change, due to development of the kerosene-distilling industry in Kwangtung, is an important one from the revenue point of view and is likely to prove of almost historical importance from the trade point of view. Another factor of interest in the import trade was the slump in the foreign textiles market. The difficulty in disposing of high-priced stocks purchased when silver values were very low, in view of the improved quality of Chinese manufactures, the unfavourable exchange between Kwangtung silver coins and Hongkong dollars, the imposition of higher tariff rates for cotton piece goods in May, and the diminished purchasing power of China, has resulted in many bankruptcies even amongst the old-established firmns in Hongkong and Kwangtung. The tariff, of course, so far affects Chinese manufactures in Hongkong and other oversea settlements (and not only in the matter of cotton piece goods) equally with foreign manufactures. Certain building materials (notably iron bars) were imported in greater quantity during the year owing to the large amount of construction work going forward in Canton and elsewhere, but the most important import of all was foreign rice, which increased even over the very great total of 7.3 million piculs in 1932 to 8.7 million piculs during the year under review. The rather negligible export account, as will be seen from the figures quoted above, improved in value by over half a million dollars. The steady depreciation in Canton silver currency continued, the highest and the lowest equivalents for the Hongkong dollar being Canton $1.403 in April and Canton $1.530 in November. The fall in the value of Canton bank-notes- was much worse, the highest rate being Canton $189.40 for Hongkong $100 in January and the lowest rate of Canton $645 per Hongkong $100 being reached in November. The average T.T. rate for Hongkong dollars on Shanghai for the last nine months of the year (the exchange rates quoted in taels for the first three months not being in- cluded) was Shanghai $1097 per Hongkong $100; while the average Hongkong dollar