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Includes: Events in China. Situation for foreign traders in China remains discouraging. Profits, if made, are in local currency and not remittable. Prospects adversely affected by the embargoes imposed by the US and the UK and by the growing shift of trade from Western countries to the Soviet bloc. The sale of exports by the bloc reduces the possibilities of direct exports by traders in China. Continued withdrawal of British subjects and closure of institutions providing social services. Exit and entry permits increasingly difficult to obtain. China changes to 'strong arm' methods, mass executions of counter revolutionaries, reinforcing the need for national unity under the stress of the Korean war. Vigorous drive against commercial and industrial communities point to the elimination of the capitalist and middle classes and replacement of the private trader by Government Agencies. No progress made on the diplomatic exchange front although B.M. Charge d'Affaires makes useful contacts with the Foreign Ministry. Regular exchange of information with the Hongkong General Chamber of Commerce, problems increased by virtue of its position at the door of the new China. Statement by General Mac-Arthur on Hongkong trade with China. Visit to Hongkong of Sir Oliver Lyttleton, Secretary of State for the Colonies. Chinese Currency. Official rates remain virtually unchanged. The Chinese Parity Unit. Now used as a basis for wage payments. Description of current content. List of PB Yuan values of the Parity Unit for January to September. Foreign Owned Property in China. Regulations for the disposal of ownerless property. British War Claims in China. Former residents of China reminded that under Article 14(b) of the Treaty of Peace, HM G. waives all claims for compensation for losses arising during the courses of the war, but this does not apply to property in Japan itself. Money obtained from the liquidation of Japanese assets in the UK will be put at the disposal of benevolent organisations for the benefit of prisoners of war and internees. Conference of British Orientalists. Representation of the Association. Thanks to Mr K.M. Pannikar, Indian Ambassador at Peking [Beijing]. Chronological Summary from 8th March 1951 to 20th March 1952. Closure of six British Consulates. General MacArthur relieved of command. Imposition of U.N. Embargo against shipments to China. CNA announces 77.9% of exports now go to Soviet bloc, whence come 70% of imports. Anti-corruption drive in China halts trade.
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