ENG-1968 — Page 85

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INDUSTRY AND TRADE

A number of leading American electronic manufacturers are established in Hong Kong. Silicon transistors and diodes, con- densers, transformers, capacitors, resistors, loudspeakers and printed circuit boards are produced and exported in substantial quantities. Other electronic products include television sets and tuners, transceivers, computer memory cores, integrated circuits, oscillating coils, transistor amplifiers and magnetic reed switches.

While the growth of the plastics and electronics industries illustrate how quickly Hong Kong can react to export opportunities, older established light industries of many varieties have continued to develop and expand. They include the manufacture of air- conditioners, aluminiumware, clocks and-watches, cordage, elec- trical appliances and equipment, food and beverages, footwear, fibre glass products, light metal products-especially stainless steel ware-optical and photographic equipment, paint, vacuum_flasks, furniture and furnishings. The manufacture of hair wigs has developed dramatically during the last few years, the principal market being the United States. Exports during 1968 were valued at $318 million. Some 13,930 workers are employed in their manu- facture.

HEAVY INDUSTRIES

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Hong Kong's major shipyards are equipped to build ocean-going vessels of more than 10,000 tons deadweight and also to construct and install 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, yawls and steel lighters are regularly produced for local use and for export. The traditional Chinese junk, slightly modified from the basic design used for many centuries, has also been exported as a comfortable and stable pleasure-craft.

Activity in the shipbreaking industry, which had declined consid- erably since 1961, showed a slight improvement during the year as the tonnage of ships broken up increased somewhat. Steel rolling mills which used to depend primarily on the scrap obtained from ship- breaking, are now more dependent upon imported steel billets and locally collected scrap. These mills produce mild steel bars, window sections, angles and channels and other metal products used in building construction. Several rolling mills produce brass and