ENG-1967 — Page 84

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INDUSTRY AND TRADE

now engaged in a large scale modernization programme involving heavy capital investment in new sites and plant.

Hong Kong's separation from its principal markets and lack of indigenous raw materials are among the factors which have produced a concentration of resources on light industry while heavy industry has developed only where a domestic market was available. Two relatively new industrial ventures illustrate this point. The demands of the Hong Kong construction industry have resulted in the establishment of one factory to manufacture spiral welded pipes of all dimensions, and another to produce extruded aluminium fittings and sections.

In similar fashion, the expansion of light industry has stimu- lated the manufacture of machinery and parts. Hong Kong-made machinery, built originally for domestic industry, is now exported to many overseas markets. 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 complete airframe and engine overhaul, and work has been received from countries as far afield as Australia and Canada. Local manufactures can produce most of Hong Kong's requirement for cement, most of the raw materials being imported. A new cement factory was opened in October. I ]

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. Reclamation at Kwun Tong, which began in 1955, is now complete. The scheme provided 641 acres of which 154 are solely for industrial use. At the end of the year 503 factories were already operating, employing 48,445 workers or over 12 per cent of Hong Kong's industrial work force. Another major development scheme is in progress at Kwai Chung and many new factories are already in operation there. Long-term develop- ment plans of two new towns, Castle Peak and Sha Tin, have been