ENG-1964 — Page 61

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INDUSTRY AND TRADE

into an important branch of industry. The Colony's knitting mills produce towels, tee-shirts, underwear and night-wear, swimsuits, gloves, socks and stockings in cotton, silk, wool and other fabrics. Production and export of knitted woollen and acrilic knitwear, especially for women, has shown phenomenal growth in recent years. From a total of $862 million in 1961, the value of exports of clothing has risen to $1,619 million in 1964, produced by some 1,070 factories.

OTHER LIGHT INDUSTRIES

In the ever-widening range of light industry the most prominent, apart from textiles, is the manufacture of plastic articles. Skill in the cutting of moulds and dies and ability to meet short orders has resulted in increased exports of a very wide variety of products which, besides artificial flowers, toys and dolls, include more recently household furniture of polypropylene, plastic articles and PVC-coated fabric. The industry manufactured exports worth some $613 million during the year.

There has been spectacular growth in the electronics industry. The manufacture or assembly of transistor radios commenced only in 1959 but since then exports of transistor radios have at least doubled in volume each year to reach a total of 3.9 million sets worth $95 million in 1964. The industry exports to 67 countries but its principal markets are Britain and the United States. The manufacture of electronic component parts has also made great progress. Silicon planar transistors, condensers, trans- formers and capacitors are now produced and exported, and the assembly of television sets has commenced on an experimental basis.

While the two industries singled out above illustrate some of the factors behind Hong Kong's striking industrial development, light industries of many varieties have continued to make steady, and in some cases spectacular, progress. These include the manu- facture of air-conditioners, aluminiumware, clocks and watches, cordage, electrical appliances and equipment, enamelware, food and beverages, footwear, light metal products, optical equipment, paint, vacuum flasks and furniture and furnishings.