ENG-1952 — Page 104

HONG KONG ANNUAL REPORT, 1952

when Hong Kong was able to make a substantial con- tribution in the form of locally built ships, webbing equipment and various other supplies for military and civilian purposes.

The most spectacular expansion occurred between 1946 and 1950, when unsettled eco- nomic and political conditions in the surrounding territories in the Far East led to large scale investment in the Colony and the establishment of a large number of factories equipped with the most modern machinery for the production of a wide variety of commodities. To-day local industry is responsible for approximately 25% of all Hong Kong's exports and it now plays a most important part in the Colony's economy. There are at present some 1,500 registered factories manufac- turing a wide variety of articles from rubber shoes to rattanware and firecrackers.

Since 1948 Hong Kong has had a stand at the British Industries Fair (Commonwealth Section) where examples of these commodities have been on display. Although attendance at the 1952 Fair was below aver- age, the Hong Kong stand proved a major source of attraction and no less than 550 inquiries from 57 countries were recorded.

HEAVY INDUSTRIES

Owing to Hong Kong's splendid harbour and the inexpensive port facilities, many international shipping lines have made Hong Kong their terminal port. Large and well equipped shiprepairing and shipbuild- ing yards were established to meet this requirement and today, Hong Kong can cater for all demands for repairs and overhauls, and can in addition build vessels up to 10,000 tons.

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