§ Mr. Kenneth Clarkeasked the Chancellor of the Exchequer what is the policy of the Government on facilitating the payment by China for the exports of 571W British goods to China which the Government are seeking to promote; what is the extent of the financial commitment by the Government and public bodies; and what would be the consequences of any failure by China to fulfil its obligations to pay.
§ Mr. MeacherI have been asked to reply.
All the normal facilities of the Export Credits Guarantee Department are currently available for exports to this market. A $1.2 billion credit facility involving 10 British banks and supported by ECGD was arranged last December with the Bank of China to finance contracts for plant and equipment and associated services placed with Chinese trading organisations during the period ending June 1980. No business has so far been negotiated under these facilities.
Contract negotiations are in progress on the part of both public and private sector companies for major projects in China,
Member Occupation Town of residence Mr. D. Wiggins (Chairman) Lectures in philosophy London Councillor Mrs. A. Ashworth Housewife Southsea Mr. D. Bow-tell Lecturer Reading Mr. R. H. Brown Printing manager Brighton Mr. W. Burnett Director of the South-East England tourist board Tunbridge Wells Miss M. Denby Lecturer London Mr. E. G. Feben Secretary of Sandown and Shanklin golf club Calbourne Mrs. J. Harris Housewife Guildford Mrs. D. Rhodes Housewife Dover Mr. D. H. Silvester Quantity surveyor Fleet Mr. C. H. Smith Quantity surveyor Farnborough Mr. J. P. P. Smith Secretary, London Electricity Consultative Council Brighton Mr. M. J. Whitson Civil servant Paddock Wood Mr. N. Goulder Co-ordinator of land development for Hampshire county council. Winchester Mrs. S. Rowland Housewife Margate Mr. E. Thatcher Engineer Littlehampton Mr. A. E. Witherspoon Personnel training officer Gravesend All but the last four members are known to be regular users of BR rail or ferry services.