ENG-1961 — Page 111

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INDUSTRY AND TRADE

to several unofficial missions and a large number of individual businessmen and foreign government officials.

The Branch also publishes and distributes the annual 'Com- merce, Industry and Finance Directory' and the monthly 'Trade Bulletin'. The Directory is a comprehensive guide to Hong Kong business in its economic and administrative setting; the 1961 edition was published in June. The Trade Bulletin is a general guide to Hong Kong's products in magazine form and each month features different aspects of the commercial and industrial scene. Both these publications are illustrated in colour and are distributed free to overseas businessmen.

Statistics. Every month the Statistical Branch of the Commerce and Industry Department publishes 'commodity by country' statistics of the quantity and value of all goods imported, exported and re-exported; these are classified in accordance with the Hong Kong Imports and Exports Classification List, which is based on the Standard International Trade Classification. 'Country by com- modity' statistics are also tabulated and are available in the depart- ment but not published.

The trade statistics are compiled on punched card machinery from declarations which importers and exporters are required by law to file with the Statistical Branch.

TRADE CONTROL

Import and Export licensing formalities are kept to a minimum and there were no significant changes in the few existing regulations during the year. Licences are required only for materials of a strategic significance and for a few other items on which it is necessary to retain control for health, foreign exchange and other such reasons. The majority of export licences are required for exchange control purposes. The Commerce and Industry Depart- ment takes pride in the speed with which applications for import and export licences are handled, a licence normally being ready for collection a few hours after application has been made.

The Hong Kong Government is responsible for the legal and administrative arrangements required to implement the textile in- dustry's temporary undertaking to limit its export shipments to Britain and ensures, by means of a system of export licensing,