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Includes: Withdrawal of British Interests from China. Progress made. Terms under which withdrawal is permitted. Continuing difficulty over exit and entry permits. Chinese employees. Further Notes delivered to the Chinese Government. Living conditions for the remaining British commercial employees. Currency. Official value of the Chinese Peoples Bank Yuan remains unchanged, and the Parity Deposit Unit keeps fairly steady. Constituents of the PDU in Shanghai given, it being noted that these are not the same throughout the country. China's Foreign Trade. No official figures from China. Continued rise in the share of her trade done with the Communist bloc. Estimate of free world trade. Market for Chinese exports still confused by the re-selling by satellites at below China floor prices. Visit to Peking [Beijing] by unofficial group of British businessmen. *Similar visits by French and Japanese groups. Embargo maintained with but little change. Washington Conference brings the lists of all participants into line. Statistics of the direct trade between the United Kingdom and China, it being noted that much trade is done through the medium of Hongkong. Figures are given for the trade between the United Kingdom and Hongkong together with an estimate of the amount of this which is attributable to trade with China. Derived from this, is an estimate of the total China/United Kingdom trade. The growing tendency for China to trade direct reduces the volume of China/Hongkong trade. Terms of payment and inspection increasingly favour the Chinese. Management of China Properties. Teintsin [Tianjin] Municipality rule that foreigners can no longer act as caretakers. Foreign Office views. Chronological Summary, from April 7th 1953 to March 22nd 1954. It includes; Various reports of railway building. Adverse conditions produce food shortages. Signature of 10 year Sino-Soviet Trade Treaty, provides for loans of $1,250 million, sending of Soviet technicians, and joint oil exploration. McCarthy accuses British ships of trading with China. British declaration of policy in respect of trade with China. Armistice is signed at Panmunjom. Royal Naval Patrol Launch attacked in the Pearl River. China starts economy campaign due to unfavourable state of the budget. Japan trade pact with China. Eden describes the British Council for the Promotion of International Trade as a communist front organ. Board of Trade ends ban on sales of small passenger cars. China announces aim to eliminate private enterprise. Decision taken to hold the Geneva Conference to discuss Korean and Indo-China peace settlements. Eden expects the Conference to discuss the embargo on trade with China.
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