ENG-1965 — Page 70

INDUSTRY AND TRADE

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resulted in the establishment of one factory to manufacture spiral welded pipes of all dimensions, and another to produce extruded aluminium fittings and sections. Both these developments are of potential significance for the future.

In similar fashion, the expansion of light industry has stimulated the manufacture of machinery and parts. Built originally for domestic industry, Hong Kong-made machine tools are now exported to over 70 countries. Of particular importance are plastic blow moulding and injection moulding machines, power presses, lathes and planing machines.

Aircraft engineering is another important industry; one large establishment provides maintenance and repair facilities for most airlines using-Hong Kong Airport. Facilities are available for com- plete airframe and engine overhaul, and work has been received from 38 countries as far afield as Australia and Canada. The Colony also manufactures much of its requirement for cement, most of the raw materials being imported.

LAND FOR INDUSTRY

Government land development programmes include the zoning of land for industrial use. Large scale reclamation schemes are being carried out at several places. The most advanced was begun at Kwun Tong in 1955 and, by the end of 1965, 261 acres had been reclaimed. When completed the scheme will provide 641.3 acres, of which 153.9 acres are designed solely for industrial use. At the end of the year 343 factories were already operating, employing 30,500 workers or 8.3 per cent of Hong Kong's industrial work force.

A scheme of even greater importance is that at Kwai Chung, near the industrial town of Tsuen Wan, which will ultimately provide 6,130 acres of land. Of this, 986 acres will be for industrial develop-

ment.

In the development areas of Kwun Tong and Kwai Chung, purchasers of industrial land leases can pay by instalments over 20 years. Purchasers of industrial land elsewhere in the Colony can pay in four equal interest-free instalments, spread over two years. During 1965 there was less demand for land for industrial development and fewer sites were auctioned than in the previous year.