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Includes: British Withdrawals from China. HM G. presents a Note to the Chinese Government asking that facilities be made available to enable the expeditious closure and disposal of businesses. Text of Notes exchanged is given in the Appendix.* Difficulties continue despite the assurances given. Chinese Currency. Official foreign exchange value of the Chinese Yuan is depreciated by 10%, from PBY62, 350 to PBY68, 590 £1. Announced that there had been no corresponding depreciation in the internal value as illustrated by the Parity Unit values from January to December. Content in commodities given. Suggested that the revision is designed to promote trade and inward remittances. Developments in China's Foreign Trade. Chinese Government opens in East Berlin a branch of the China National Import Export Corporation (CNIEC) to promote export trade and fulfil the deals arranged at the Moscow Economic Conference in April 1952 with groups from the United Kingdom among others. The British Group, led by Lord Boyd Orr arranges purchase of Chinese produce to the value of £10 million against sales of textiles, metals and pharmaceuticals. Three new organisations set up in the United Kingdom to assist in trade promotion. The Employers Federation of Hongkong. The Association undertakes to represent it in this country. Chronological Summary from April 3rd 1952 to March 30th 1953. Includes Note to the Chinese Government about the detention of British and American citizens, Chinese decree ends the five antis campaign. Privy Council restores to an American airline the ownership of 40 aircraft in Hongkong, in retaliation, China requisitions two British owned shipyards in Shanghai. A British party, including 4 MPs visits Peking [Beijing]. British Chamber of Commerce closes. Requisitioning of British Companies in Shanghai. Interference with British Ships. Peking [Beijing] 1953 Budget. Appendix. Correspondence between HM G. and the Central Peoples Government of China on British Trade in China. The 1953-1954 Report states that the weights quoted refer, not to the Parity Deposit Unit, but to the "Fen", a weighted index used for budgetary purposes. It continues that the constituents of the PDU very and are appropriate to particular area of the country. (e.g. Rice would be a constituent in the South but not in the North )
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