ENG-1969 — Page 91

INDUSTRY AND TRADE

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Development Organisation (UNIDO) and the Asian Productivity Organisation (APO) (of which Hong Kong is a full member in its own right) are also of interest in varying degree to Hong Kong. In March, Hong Kong also became a member of the Asian Develop- ment Bank.

All these matters, in both their external and internal aspects, are the concern of the Economic Branch of the Colonial Secretariat in terms of higher policy and of the Commerce and Industry Department at the advisory and executive level. In recent years the traditional efforts of trade and industrial associations have been augmented by specialised sections of the department or by autonomous agencies, legislatively sanctioned, with defined objec- tives.

The Director of Commerce and Industry takes advice on matters of policy affecting trade and industry, other than textiles, from the Trade and Industry Advisory Board which he chairs. This is a body of senior unofficial representatives of commerce, industry, banking, etc, nominated by the Governor, which meets once a month. A more specialised board, the Textiles Advisory Board, also chaired by the Director, is consulted on matters affecting the textiles industry. It was particularly busy during 1969, meeting on 23 occasions.

INDUSTRY

In general, Hong Kong is best known for the competitive price and range of its light industrial products, now universally recognised to be of high quality. The majority of industrialists are Hong Kong residents, and the greater part of their capital resources self- generated. In recent years, however, overseas interests-in particular American and Japanese, but also British, Australian and Swiss- have increasingly entered into various forms of industrial co- operation with Hong Kong firms. The employment figures in Appendix III record very well both the narrow range but con- siderable variety of manufacturing industry, and where employment is concentrated.

Textiles and Clothing

The textile and clothing industry dominates the manufacturing sector, accounting for 47 per cent of its domestic exports in terms