Important Investigation: High Rent and Wages: Canton a Growing Rival Hongkong, April 7.
The Committee which has been inquiring into the economic resources of Hongkong has now issued its reports. The most voluminous of these is the one relating to factory, home and cottage industries. Among the conclusions arrived at in this matter are the following:
(1) There is a general tendency for skilled labour to become more expensive.
(2) High rent is a serious factor which militates against industrial development, and favours Canton as against Hongkong.
(3) In view of the increased advantages which will obtain there as soon as stable government is instituted in South China, it behoves the authorities of Hongkong to watch the situation most carefully.
(4) As regards the disadvantages under which the trade in motorcars suffers, it is pointed out that chauffeurs' wages in Hongkong are disproportionate to those paid at Shanghai.
Destructive Taxation, (5) The incidence of heavy taxation is burdensome on the tobacco-manufacturing and wine-distilling trades.
(6) The industry has ceased to be profitable.
(7) The desirability of re-establishing the match industry is urged. It is maintained that the value of sericulture cannot be overestimated, and that experimental silk production has proved the feasibility of making this industry successful in the new territories.
(8) Japanese competition is a factor against the development of the local knitting factories.
(9) The hosiery trade is increasing by leaps and bounds, it behoves the Government to foster the industry by affording the means of supplying the raw material. A new cotton-mill, with Chinese capital, is mooted, and all its promoters desire is ability to obtain cheap cotton, independent of the cotton supplies from foreign. interests, which are inimical to local industrial development.
Text read from the printed page and cleaned; old type leaves the occasional error.