CHINESE LOCAL PRODUCTS' PRICE DROP, EXPORTS INCREASE ON HONG KONG MARKET

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00809A000700090162-1
• Release Decision: RIPPUB
• Original Classification: R
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: August 11, 2011
• Sequence Number: 162
• Publication Date: October 24, 1952
• Content Type: REPORT

Sanitized Copy Approved for Release 2011/08/11: CIA-RDP80-00809A000700090162-1
CLASSIFICATION RESTRICTE-D
CENTRAL SN7ELLIGENCE A,Gffl
INFORMATION FROM
FOREIGN DOCUMENTS OR RADIO BROADCASTS
COUNTRY China
SUBJECT Economic - Trade
HOW
PUBLISHED Daily newspaper
WHERE
PUBLISHEC- Hong K, -Z
DATE
PUBLISHED 8 Sep 1952
LANGUAGE Chinese
REPORT
CD NO.
DATE OF
DATE DIST. of y Oct 1952
NO. OF PAGES 1
SUPPLEMENT TO
REPORT NO.
THIS IS UNEVALUATED INFORMATION
CHINESE LOCAL i'RODUCIS- PRICE DROP
EXPORTS INCREASE ON HONG KONG MARKET
Recently, there has been an increase in the trade carried on by the Chi-
nese Communists with Hong Kong, particularly in the shipments of local products
out of China through Hong Kong for sale abroad. From a study of Hong Kong
trade with China it is possible to see that conditions of the past month have
been influenced by (1) the fact that China'c export of local products is enter-
ing the most profitable season, (2) the desire of the Communists to accumulate
foreign credit, and (3) the concern of Chinese government circles over the scar-
city of goods.
Directly related to these factors are four points which bear looking into.
First, the Chinese are gradually increasing their export of local native prcd-
ucts. Second, the Chinese have already made great reductions in the prices of
their exported local products. Third, although Hong Kong maintains strict con-
trol over trading, smuggling activities continue to develop and the purchases
of items not banned 'lave increased. Fourth, Communist authorities have ex-
panded the scope of imports.
According to information from local traders, Chinese shipments of native
local products have been quite numerous. From the last part of August to 8 Sep-
tember, at least 2,000 tons of tea oil and more than 500 tons of bean oil were
exported. Prices of local products have also dropped, e.g., the price of
shelled peanuts dropped to 1,750 Hong Kong dollars per ton, green peas dropped
to 720 Hong Kong dollars per ton, broad beans dropped to 600 Hong Kong dollars
per ton, linseed dropped to 950 Hong Kong dollars per ton, and bran to 235 Hong
Kong dollars per ton (all fob Tientsin). In the field of imports, besides
Western medicines such as penicillin, sulfathiazole, and sulfadiazine, efforts
are being made to buy electrical equipment (such as tungsten wire) and small
metal tools. Payments are made with the A.P. method except in the case of
strategic goods which are still smuggled, chiefly through Macao.
STATE
ARMY
CLASSIFICAT!ON RESTRICTED
NAVY N_RB DISTRIBUTION
AIR FB I-
Sanitized Copy Approved for Release 2011/08/11: CIA-RDP80-00809A000700090162-1
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