An industrial colony: Hong Kong manufacturing from boom to bust
Until we examined the position we were as a body inclined, with others of the community, to consider the industry of Hong Kong as being of very minor importance. As the result of research and evidence, however, we have come to the conclusion that it has assumed a proportion which can by no means be disregarded and that while it has arisen in somewhat haphazard style it does contribute substantially to the welfare of the economic unit of South China and Hong Kong. We are of the opinion, however, and all the evidence which we have heard bears this out, that the industry of Hong Kong cannot develop much beyond its present stage except inasmuch as it can form an economic part of the whole industrial development of South China and even to some extent of North China. While some of the factories at present existing in Hong Kong are solely Hong Kong units, some of the more important are but sections of industrial concerns, the other parts of which operate in Canton or in Shanghai.