HC Deb 28 November 1961 vol 650 cc227-8
24. Mr. Teeling

asked the President of the Board of Trade what were the figures for exports from this country to China for January to June, 1960, and for the same period in 1961; and why the figure in May, 1960, of £4,492,000 fell to £553,800 in May, 1961.

Sir K. Joseph

The figures requested are available from the June, 1961, issue of the Trade and Navigation Accounts. The decline in exports in May, 1961, compared with May, I960, was of a general nature, but was due mainly to lower exports of copper wire rods, wool including tops, and iron and steel.

Mr. Teeling

Is my hon. Friend aware that we were told some time ago that if certain restrictions were removed from trade with Communist China it was certain that we should greatly increase this trade? As far as one can see from the figures which my hon. Friend has mentioned, trade has decreased by an appalling amount in the last year. Can the Board of Trade in any way show us why it is seemingly so uninterested in this?

Sir K. Joseph

Our trade with China has provided us with a surplus over the last three years, and in the last year China has had to devote a very large part of her foreign exchange resources to buy food because of the disastrous harvest.

Mr. Shinwell

Can the hon. Gentleman say whether the reduction in our exports to China is due to political or strategic reasons?

Sir K. Joseph

There is no reduction in exports to China for those reasons. This was, as far as I can see, a relatively freak month in a year when China's foreign exchange resources have been depleted because of her need for food as a result of the bad harvest. Up to this year we have been doing better trade with China and have had a surplus in our trade with her.