ENG-1963 — Page 106

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INDUSTRY AND TRADE

The variety of goods produced in Hong Kong is now consider- able. In general, while the heavier industries such as ship-building and ship-breaking continue to be important, the Colony has be- come best known for the price, quality and range of the products of its light industries. Of importance are cotton piecegoods, cotton yarn, towelling, ready-made garments of all kinds, cotton and woollen knitwear, enamelware, aluminiumware, torches, torch batteries and bulbs, transistor radios, electronic components, vacuum flasks, plasticware including plastic flowers, paints and varnishes, rubber and leather footwear, and rattanware. Among traditional Chinese goods the best known are brocade piecegoods, embroideries and drawnwork, crocheted gloves, carved articles of wood, ivory, jade and semi-precious stones, and the manufacture of articles from brass, pewter and other metals.

There are many factors favouring industrial development in the Colony. They include low taxation, plentiful productive labour, the advantages of a free port, excellent shipping and commercial facilities and freedom from locally imposed trade restrictions. These, in general, more than compensate for three important handicaps, namely, an absence of raw materials, a scarcity of water and a shortage of land suitable for industrial purposes. While the first cannot be remedied the last two are being vigorously tackled. Extensive action to alleviate the water problem has been, and is being, taken. The opening of a new reservoir at Shek Pik on Lantau Island (see chapter 16) has increased the total storage capacity of the Colony's reservoirs by 50 per cent. A further scheme at Plover Cove is now under way and when completed should treble the existing water storage capacity.

HEAVY INDUSTRY

As already mentioned, ship-building and repairing is the oldest of Hong Kong's industries. Following naturally from its develop- ment as a trading port, the Colony has become one of the finest ship-building and repair centres in the East. Hong Kong shipyards can build ocean-going vessels of up to 10,000 tons dead-weight and can also construct and install their engines. At the other end of the scale, pleasure craft and utility vessels of all kinds including ocean-going yachts, vehicle and passenger ferries, sloops, cruisers, speed-boats of wood and fibre glass, tugs, yawls and steel lighters