ENG-1953 — Page 92

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HONG KONG ANNUAL REPORT, 1953

The main industries from the point of view of employment cotton spinning, weaving, shipbuilding and repairing, metalware, printing and publishing, chemicals, flashlights, rubber footwear, food products, and garment making. Indus- tries established since 1945 include cotton and wool spinning, aluminium and brass rolling and stamping, egg packing, drinking straws, tapestries, woollen gloves, fire extinguishers, kerosene refining, rolled steel bars, gramophone records, electric irons, kettles and clocks, pressure lamps, plasticwares, silk screen printing, and nylon knitting.

Hong Kong's growth as an industrial centre was facilitated by the flight of both capital and skilled labour from the Chinese mainland, in 1949. An important result has been the emergence within the Colony of industries catering in particular for the large markets of South East Asia. In 1953, the products of local industry amounted to approximately 30% of the Colony's total exports, and it is now evident that with the decline in its status as an entrepôt, which has occurred since the outbreak of the war in Korea in 1950, the Colony can support its greatly swollen population only by developing its industries and finding new markets for its products overseas.

The year was marked by restrictions on trade imposed by China, Thailand, Indonesia, Pakistan and the United States, but despite this exports of Hong Kong manufactured goods increased. Part of this increase is due to the inclusion of a wider range of local products in the recorded statistics.

Hong Kong was again represented successfully at the British Industries Fair where 560 inquiries from visitors from 53 countries were recorded at the Colony's stand. Hong Kong products were also shown by the Chinese Manufacturers' Union in exhibitions at Singapore, Djakarta and Utrecht, and in the Philippines and Formosa. A few factories participated individually in the Seattle Trade Fair.

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