N spite of the hostilities which have been raging around the city, the last year proved a record one for China, it was reported at the general meeting of the Shahghai General Chamber of Commerce, held yesterday afternoon at 17 The Bund.
Mr. G. Boolsen was in the chair.
The total customs revenue collection for the year 1937 showed an increase of over $18% million, or 5% per cent. over the revenue collection for 1936.
In his speech, Mr. Boolsen said:
At the last annual general meeting of the chamber your chairman's remarks took an optimistic view when he referred to the prospects of bu ness in China for the year 1997, and. as will be seen from the customs statistics included in the chamber annual report, last year proved a record year for China in spite of the serious situation which arose later on *as the result of Sino-Japanese hostilities. The total customs revenue collection for the year 1937 showed an increase of over $18% million, local currency or 5% per cent. over the revenue collection for 1936.
During ihe seven months period January-July, the average monthly collection was $37.5 million, whereas following the outbreak of hostilities the average monthly collection for the five" months period August December was $16.1 million only.
The total collection for the period prior to hostilities was close upon $100 million higher than for the corresponding period of 1936, $80 million of this-increase being under the heading of import duty, while for the second period following the outbreak of hostilities collection fell to $80.6 million, as against $159.5 million in 1986. It is safe to assume, therefore that but for the incidence of hostilities the customs revenue collection for the year 1987 would have surpassed the record collection of $35,000,000 (excluding native customs duty and junk dues) made in 1931 by à generous margin.
Text read from the printed page and cleaned; old type leaves the occasional error.