§ 74. Mr. LIDDALLasked the Secretary of State for Foreign Affairs whether he has any statement to make on the present situation in China?
§ 76. Mr. NUNNasked the Secretary of State for Foreign Affairs whether he has received any information from His Majesty's Ambassador in China as to the means that are being taken by the Chinese Government to check the export 2052 Of silver from China; whether the Chinese Government are now obtaining the advice and co-operation of the foreign bankers in checking the outflow; and whether the position shows any sign of improvement?
§ Mr. EDENYes, Sir. The Chinese Government have raised the export tax on silver from 2¼ per cent. to 10 per cent., and a variable "equalisation duty" has been imposed. The combined export tax and equalisation duty now amount to 141 per cent. In regard to the cooperation of foreign banks with the Chinese Government, no official communication has been received, but the Chinese Minister of Finance is reported, in the Chinese Press of 1st May, as having stated that all banks had agreed not to export silver. So far as can be judged from the official statistics, the measures taken appear to have been successful in diminishing the outflow of silver from China. Between 1st January and 21st May, recorded exports of silver were largely exceeded by imports, and in recent weeks there have been no recorded exports.