5.5 Social and Economic Conditions

The three years and eight months under Japanese occupation was a time of untold misery for the people of Hong Kong.

Rice, sugar, salt and cooking oil were rationed and other foodstuffs such as vegetables and meat were extremely scarce and exorbitantly priced.

Fuel was equally scarce so that electricity, gas and public transport services were gravely affected.

To tighten its control of Hong Kong's mercantile activities, the Japanese government organised the majority of trades into cartels. British and other enemy banks were liquidated, and the Hong Kong's dollar was replaced by the Japanese military yen as the legal currency.

Profligate issuing of the military yen debased the currency, caused runaway inflation and paralysed Hong Kong's economy.

Credit : History Museum of HK.