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“...belongs to Shanghai, and the port, although opened
little more than 60 years ago, now ranks as the eighth shipping port
in the world.
During the year under review three facts stand out predominantly General
in their bearing on the trade of the port and specially arrest the atten- conditions,
tion of the foreign merchant. They are the unusually high exchange,
resulting from the heavy demand for silver; the over-stocking of
the piece-goods markets, owing to anticipations of rapid develop-
ments in Manchuria which have not been fulfilled; and the com-
mencement of the conservancy of the River Huangpu, the short
stretch of water lying between Shanghai and Woosung, on which
depends more than on any other factor the continued prosperity
of the port.
The first two facts—the high exchange and the heavy stocks of
piece-goods—threatened great embarrassments to foreign merchants,
and it is a cheering sign of the vitality of Shanghai as a commercial
centre that few firms have been seriously affected, whilst...”
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“...Manchurian markets. Newchwang has
always been closely in touch with the big piece-goods firms at this
port, and it is there that British interests have been predominantly
established. During the past year, however, an entire change has
taken place, and, apart from the goods which entered the country
direct from Japan, there was a regular traffic from Shanghai direct
to Dalny, where goods entered duty free. There can be little
doubt that the Japanese are making a bid for the cotton cloth trade
of Manchuria, and the increased number of spindles and the new
mills established by them during the year all show activity and a keen
spirit of competition. For the present the Japanese spinnings which
have entered the country are not as favourably spoken of as those
of Manchester, but the markets will need careful watching and ener-
getic working as soon as it is possible to gain a fair footing in the
country again.
Manchester Although the year has been bad for piece-goods as a whole, it is
goods. probable...”
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“...
The Chinese tea grower is apparently still incapable of realising Tea.
■that he is losing the European markets. The trees are. left un-
pruned and the ambition of the small producer is confined simply
to obtaining three crops a year from his soil. There is fortunately
a demand in Russia for the inferior classes of teas, large shipments
having been made from this port to Yladivostock during 1906, and
there is no doubt that China teas will find their chief market in the
future in Russia and Manchuria, the latter country especially show-...”
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“...The tea season has been
so unsatisfactory for Shanghai shippers that, in view of the steady
fall in quality and demand, especial! y«in the United Kingdom, several
of the largest British firms have abandoned the trade. The following
figures give an approximate idea of the comparative export figures
during the last two years :—
Black. Green.
1906-07. 1905-06. 1906-07. 1905-06.
United Kingdom........ United States and Canada European ports........ Russia direct Bombay .... Batouni .... Manchuria Lbs. 4,384,001 4,595,932 16,471,308 1,510,328 22,666 15,772,144 Lbs. 30,095,894 4,548,097 5,311,811 73,284 126,267 8,999,069 Lbs. 3,507,867 10,441,552 2,045,998 713,335 7,494,532 3,565,202 Lbs. 3,796,270 13,348,799 1,498,002 994,134 6,923,267 12,119,966
Total 42,756,379 49,154,422 27,768,486 38,680,438
Straw braid. The export of straw braid, which was at one time of considerable
importance to Shanghai, is showing a rapid decrease, owing to the
competition of the German port of Tsingtau...”
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