'Aa regards experts, some relict been afforded by the Customs' adoption, on the recommendation of the Exports Association of Shanghe of seasonal values for certain com: ly, of stade with which they have to con-fend in disposing of China produce Im world markets, owing to the existing high duties. Tu no other country In the world, to my knowledge, Is Cus {toms duty on exports used asia source of revenue to such an extent China, and China produce will continue to suffer in world markets until this burden Is either entirely elimin" ated or considerably reduced, During the past year, important increase hi particularly in Shanghai number of new industrial' establish~ ments equipped with moder machh for the production of materia and articles formerly Imported. Into China from countries abroad. Certain of the larger of these esiablishments are owned and operated by foreign interests, but the great mafority are now owned and controlled Chinese. This expansion In indusfrinl enterprise fe an indication the general trend and its significance obvious, pariteularty" ax regards Deorease of $4,900,000
Approximate details of Customs. revenue for 1984 have been included Ju the annual report. A decrease. shown of approximately $4,900,000, compared with the revenue for 1933, The average T. T. selling rates for the year were sterling 1/409788 and U.S. Dollars 93,764.75 per Shanghai Dolls Routine matters which have called for your committee's attention during the year are dealt with fully In' the annual report and the monthly oculars have kept members. informed of all matters of interest which have come before the Chamber. T would ike to take this opportunity to express the appreciation of the Chamber for the work done during the year by the Shipping Sub-committee, They have been called upon to deal with a number of important matters and the work of the General Committee has been greatly facilitated by the careful manner with which they have @eliberated over the various. motters which have been submitted to them for recommendations,
Text read from the printed page and cleaned; old type leaves the occasional error.