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“...shown much improvement, although Hong-Kong still supplies the finer grades. The total import of sugar and sugar candy was considerably larger than in 1911. Matches.—The increase in this article was due to the larger imports from Japan. Paper.—Paper, formerly a native product, is now mostly imported from Germany. However, the quality even of the imported article does not compare favourably with British made paper, and there would accordingly seem to be an opening for good grades from British mills. Wood.—The number of new buildings erected in the course of the year would seem to account for the increase in imported timber ; 2,369,278 square feet of wood were, for the first time, imported from Antung, and the quality of this is said to compare very favourably with that from America. Exports.—Although, in some cases, the disturbances caused by the revolution limited the area in which purchases of native produce could be made, they had the effect, in others, of deflecting many goods to this...”