§ 97. Mr. Osborneasked the Secretary of State for Foreign Affairs what steps have been taken to recover the £200 million to £250 million British capital that was lost in China; how much has been recovered; and whether he will consider making a small levy on all future Anglo-Chinese trade in order to recoup what has been lost.
§ Mr. NuttingBritish property in China falls into the two categories of physical assets and investments in Chinese bonds. The former were largely lost during the42W years of Japanese aggression, were recovered in 1945, and are now suffering in various ways because of the difficulties of operating in China at the present time, including requisitioning by the Chinese Government. As regards bonds, nearly all payments have ceased since 1938.
I cannot accept as accurate the figures quoted in my hon. Friend's Question. Her Majesty's Government have made representations to the Chinese Government; but, so far, no compensation has been paid in respect of expropriation and there has been no easement of the difficulties imposed. Nevertheless, my right hon. Friend could not agree to the suggestion made in the third part of my hon. Friend's Question. Her Majesty's Government will, however, continue to do all they can to protect British interests in China.