ENG-1956 — Page 93

Chapter 6: Industry and Trade

INDUSTRY

In the last decade the pattern of Hong Kong's economy has radically altered, and industry which, prior to the Second World War, was of minor importance, has now assumed a major role.

The Colony's first industries were in the nature of services allied to the development of the port. The earliest was, of course, shipbuilding and repairing. The first locally-built vessel, the 'Celestial', 80 tons, was launched in 1843. Two sugar refineries were established, the first in 1878, the second in 1882, not so much to satisfy the needs of the then small local population, as the requirements of ships' victualling officers. In 1885 a rope factory was started, again primarily to cater for the seafaring trade. A cement factory was trans- ferred to Hong Kong from Macau in 1899.

From time to time there were tentative efforts to set up new industries; a spinning mill was started in 1899 and closed down a few years later. Some industries, however, obtained a firm foothold; in 1902 the manufacture of rattan- ware began and in 1910 the knitting of cotton singlets and vests became established. These, although flourishing, were more or less unnoticed amid the Colony's growing entrepôt activities.

The first real stirrings in industry occurred during the First World War and the following years saw some expan- sion. A weaving factory, operating 30 hand looms, was established in 1922 and in 1927 the first flashlight manufac- tory came into being.

The Ottawa Agreements of 1932, under which Hong Kong products became entitled to Imperial Preference, were the first