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CONFIDENTIAL NOT FOR PUBLICATION.
HONG KONG GENERAL CHAMBER OF COMMERCE.
REPORT ON SHIPPING AND INDUSTRIAL ACTIVITY, 3RD MARCH, 1939.
SHIPPING.
221
The market generally is quiet. Nothing offering
From Saigon or Bangkok to Hong Kong; regular liners in these
trades are securing poor cargoes. The only "outside"
business reported is an enquiry to load 3,000 tons rice, Saigon/Manila.
The coal trade is slightly firmer,
fixtures being made for Hongay/Hong Kong, Hongay/Swatow and Palembang/Philippines.
Tientsin.
Regarding the China coast, the Tientsin market
is dull. Latest reports indicate probability of the
Japanese instituting a Foreign Exchange Bureau at Tientsin, effective from 10th March, 1939 - presumably on identical
lines with that in force at other ports under their control. It remains to be seen how this will affect exports from
Chefoo and Weihaiwei markets remain unsettled
due to the recent "exchange" restrictions enforced by the
Japanese. Support from Tsingtao is satisfactory, but exports are chiefly to Shanghai, and there is practically
nothing offering to South China. The demand at Shanghai is
fair. With the closing of China New Year holidays, shippers are resuming trading and there is an increase in cargo moving from Hong Kong to the North. Support from Swatow is
moderate.
Nothing offering from Foochow to North China
ports due to the "ban" on exports to "enemy" territory
imposed by the Chinese.
Considerable tension exists at Pakhoi owing to
Japanese Naval and Military activity, but in spite of this,
steamers continue to secure fair loadings. According to
recent reports the Japanese have declared Hoihow a "closed"
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