§ 70. Mr. Gammansasked the Secretary of State for Foreign Affairs what was the estimated value of British assets in China at the time of recognition of the Communist Government; and what are they estimated to be worth now.
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§ Mr. Ernest DaviesAs indicated in a reply given on 24th October, 1949, the value in 1941 of the direct British business investment in China represented by physical properties, excluding shipping, was estimated in 1947 at about £124 million. No more recent figures are available, and I am therefore not in a position to give an estimate of their present value. Excluding war losses, which have been assessed at about £14 million, these assets remain in being. Their long-term value will depend, of course, on the future development of China's internal economy and external trading policy.