ENG-1977 — Page 278

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History

BEY

HONG KONG'S success in establishing itself as one of the world's great trading centres is rooted in the history of its people. It was they who laid the foundations for the development of Hong Kong and they who are continuing to build on these founda- tions.

Until 1841, Hong Kong had always seemed a particularly uninviting prospect for settlement, being mountainous and short of fertile land and water. In that year, however, the British colony was established and the development of Hong Kong began.

The one outstanding asset possessed by Hong Kong was its harbour - largely the reason for the British presence. In a few years ships from all over the world were using Victoria Harbour as they engaged in the China trade.

Hong Kong's second great asset - its people - then began to appear. Chinese began to move to the new settlement and provide the services and infrastructure that allowed the territory to develop.

In the 136 years since the founding of Hong Kong, many changes have taken place but these two assets remain. The harbour is continuing to grow in importance on world trade routes and an industrious population continues to build economic and social success.

The Post-War Years

Following the Japanese surrender in 1945, Chinese civilians

many of whom had moved into China during the war - returned at almost 100,000 a month and the population, which by August, 1945, had been reduced to about 600,000, rose by the end of 1947 to an estimated 1.8 million. Then, in the period 1948-9, as the forces of the Chinese Nationalist Government began to face defeat in civil war at the hands of the communists, Hong Kong received an influx of people unparalleled in its history.

About three quarters of a million, mainly from Kwangtung province, Shanghai and other commercial centres, entered during 1949 and the spring of 1950. By the end of 1950 the population was estimated to be 2.3 million. Since then it has continued to rise and in 1977 totalled more than 4.5 million.

After a period of economic stagnation caused by the United Nations embargo on trade with China, Hong Kong began to industrialise. No longer could the territory rely solely on its port to provide prosperity for its greatly-increased population. From the start, the industrial revolution was based on cotton textiles, gradually adding