At the close of 1991, states the review of Shanghai's trade, even the greatest optimists could oe few igns of a coming improvement in the situation, Nevertheless, it may hazarded with some confidence Phot the general feeling at the open ing of the year under review was [that rock-bottom had been reached in 1981, and, therefore, that things Jeould not be' worse and ought even to be somewhat better in 1032, Fresh troubles arose however, between Japan and China to thwart any suspicion of a revival of trade in the Far East, and the depression throughout, the world deepened ill further instead of lifting. Apart from these factors there [would undoubtedly have been hope for some improvement, The disappointing result of the year's trading was aot so much due to
were good, the remed measures taken to offset the disastrous consequences of the flood were well cat ried out, half of the year at least, the country was less harassed by communistic activities; but Japan's further ac~ tions in Sfanchuria and her invasion the Shanghai than enough to upset the whole business of the port. Shang being the entrepot. for almost inward and outward cargoes of the Yangtze, central, and nearby coastal ports, the usual machinery of trade such places was thrown out. of Jgear for many months, Supplies for their industries could not. Jobiained, their produce could not be communi efforts towards the suppression of out Harbin, Ginc|Tapanese Toliowed a persistent ts hardly necessary to jof the boycott associations, the/ was also constantly interrupted. say that the ced owing to the absence of banking shipped, business could not be finan-
Tu the last report the inaugura-|Jewre. The offices at Harbin, (\8- obey or dumping goods into Tiensin cues "of Sie cora facilities, and. a0 on. This state of tion of a special Customs. Preven- <Mding the, suv-otices, at, Labasusul at prices unjustifably low, from a|sion campaign in: Hapeh, wa most] War, undeclared indeed but none the tive Secretariat was recorded, to- 4nd Newchwang, Shen] purely business point of view, even encouresvag to business at Haniow:|(less' ruinous. to property: and tom gether with a list of the anti-smug- FO7E ningtsun (including Henchun) sidering the favourable exchange. These. neighbouring were merce, lasted from the end of Jan-ling and anti-fraud measures intro-luced " during 1931. During 1982 were accordingly closed In consequence, the market for|not all that the trade of the port/uary to the beginning of March two additional prevently Until further notice by: the National Hapanese woods was' as" busy. as it has ever been, the country" people ever the had to contend with. The outbreak, far as actual hostilities were con Government on September 25, 1932, while the failure of the Japanese being compelled to buy the cheapest] interfered with trade between that was felt even long after the, truce pee lof hostilities at Shanghai seriously cerned, but its influence on trade ase acer cements have) authorities to permit the Chinese possible necessities in view of the port and Hankow, and for a short was signed in May. Indeed, the Customs to function in the Kwantruction of three 170-foot steamers poor profits they obtained from ex-period in the spring completely dis-effect of such and 14. 126-foot with the Leased Territory in accordance ports, Here, then, is one factor rupted transport on the Lower Sotween the military forces of Japan Dairen Agreement was} (or a combination of several fac-Yangtze. The bitter feeling engenfand China may well be felt for yeues for completion during 1933, cause of the Custom House at tors) that would certainly lower dered by the fighting added fuel to} ince the suburban district while the third steamer should be iron being declared closed on the the value figures given in the tables, the i-Tapanese boycott instituted Chapet, which was ready early in 1934, China's same date, The closure of the Custom while, considering the fall in the Ventive fleet will then. cor House at the frontier port of Aigun prices of goods from those countries small consignments of Japanese 1951, with the result that onl ly laid waste, was one of hives of industry in all and 21 launches, was announced on September that abandoned the gold standard, goods found their way into Hankow many were the factori 26, but efforts are being made to and from Japan in particular, the] during the first half of the ye and put out of business enh ad under" craft. of|tesume control there. The former|quantity of goods handled would In The) subafce of the Harbin Centos at Seta be mach greater than tatlecisin reveal of rade wih Jajan spite of the boycott, however, a Courage and Eaterpie creation of a Customs " Wire- Suifenho was st di Government indicated by the statistical values) was apparent in the autumn, but] Business inevitably suffered, and ess Service "for the purpose half of the National Government. given in the ventures. Another fac- this must be attributed in a forge direct imports from abroad declined expediting "the transmission Out independently of Harbin, at the in relation! measure to the drastic, fallin the from a gross value of 8336 million of information and co-ordinating tifure the official closure of the that the deepening] value of the yen, enabled Haikwan taels in 1951 to 610.4 mil-Preventive activities has been oetore, Custom Houses the collec- depression, ip international trade Japanese goods to Lo placed on the lion taels in the year under review, authorised by the Government, and Yon of duties had been interfered caused a further drop in the prives ficial market at prices quite beyond: while exports to foreign countries at the outset it is intended to erect. offering for Chinese export produce, Hon. In the field of finance] declined from a value of 227.5 to Tain stations at Chefoo, Shangh with, and revenue already deposited in the banks had either been im-It is fairly obvious, then, that the disorder 1583 million taels. 'The decline in 'Amoy, anid' Shumehun, with subs diary stations at Swatow and Hoi-mobilised or seized; while data for drop in commodity' prices for ex-throughout the year, due Shanghai's imports, therefore, was the compilation ' of statistics ports as well as imports had a dis-to erratic fluctuations of Ber, Risined Gostotis guards finer relation to the decline shown] the absence of ready capital funds, decline in exports mo Tess' than 43 Approximately 39 per cent., and the being introduced gradually "at the/of trade" could, not be Obtain of he trade, of tre] aaa ey ready capital fu or per cent, to which of course, other ports and on the land frontiers. The el S426: 1U"6 which port, and that a far greater quanti- he extreme inertness noticeable in factors besides those described here introduction of Junk regulations) rece offices were able to function, tative movement of goods took place industrial and constructional tunder- contributed, Shanghai need hardly gatalling phon extention foreign and domestic Guties amounting only to 11.6 mil- than the smaller figures recorded in takings. Bad general conditions in|be discouraged, however, if even in fion taels, plus '9 million taels of the value tables would lead one to Europe and America were also fac-such circumstances. its bankers and ually effecting a satis trol over the vast trade carried on by these craft. Thus it may be een that: the preventive side of Customs acti which has become a matter of considerable importance worth 38 milieu Haikwan tacks Setinot ahaa Gate suppose at first glance. The import section of the trade of the port was augmented for a time during follow-jing upon the period when business land. river trafic was Interrupted at Shanghai owing to the hostilities in tors in the continued dullness which' characterised the Hankow export market.
Fortunately, harvests in the Middle and Upper Yangtze regions were cellent, a contrast to the merchants can handle over 500 mil-ion Hatkwan taels' worth of im: ports during the course of a year. This is practically five. tines" the amount imported through the port' nearest competitor, Tientsin, and
Text read from the printed page and cleaned; old type leaves the occasional error.