ENG-1962 — Page 103

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INDUSTRY AND TRADE

singlets, underwear and nightwear, swimsuits, gloves, sweaters, socks and stockings in cotton, silk, wool, rayon and other fabrics.

COTTON ADVISORY BOARD

The Cotton Advisory Board was formed in July 1961 to advise Government on the problems facing the cotton textile industry and particularly those arising from requests by importing countries for restrictions on the export of cotton textiles from Hong Kong. The terms of office of members of the first board expired on 20th July and His Excellency the Governor appointed a new board for 12 months starting 21st July 1962. The board, under the ex officio chairmanship of the Director of Commerce and Industry, com- prises leading members of the spinning, weaving, dyeing and finishing, and made-up goods sections of the industry, as well as members of the Hong Kong General Chamber of Commerce, the Federation of Hong Kong Industries and the Chinese Manufac- turers' Association. Members are appointed in their individual capacity and not as representatives of any association.

DIVERSIFICATION

The textile industry still dominates the local industrial scene, but there has been diversification within the industry over recent years. An industry which has shown exceptionally rapid growth in recent years is the manufacture of woollen knitwear. Backed by a wool and worsted spinning industry which now has an annual productive capacity of some 12 million pounds, the industry has seen a phenomenal growth of its exports in recent years. Exports of woollen knitwear in 1962 reached a value of approximately $181 million compared with $91.2 million in 1961, an increase of 98 per cent.

Other well established industries have similarly undergone in- ternal diversification in product ranges and quality. A striking example is the manufacture of plastics, one of the Colony's largest sources of employment. From very simple beginnings this industry produces a wide range of products including plastic flowers, which have become world famous. The electronics industry, which was established only in the latter part of 1959 when one firm began assembling transistor radios from imported parts, has developed