CIVIL WAR BLEEDS CHINA FINANCIALLY
Received Bunday, 7 p.m. NAXKIXG, Jan. 3. China's national treasury is exhausted, said Dr. O. K. l'ui, Minister oi Finance, today. Dr. Yui said that owing to the large expenditure incurred for tlie arniy in tlie Coimnunist suppression campaign, tlie national expenditure last year had risen 450 per cent. whiie income had increased only 80 per cent. " .Manv t'actors have contributed to the present liuancial crisis in ('hina,' said Dr. Yui, " but the chief factor is the jlresent civil strife in Manchuria and Xortli Cluna." After brieflv reviewing the liuancial position. of tlie count rv, Dr. Yui saiq a customs agreement between China anrl Hong- Kong will be signed in the next two davs. He said the pact will greatly tissist ('hina in stopping the biggesi leakage of revenuo and help her to naiance her budget. Xext to the suppression campaign, smuggling is tlie biggest sourc.e of eiuDariassment to ttie Government.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19480105.2.27
Bibliographic details
Chronicle (Levin), 5 January 1948, Page 5
Word Count
156CIVIL WAR BLEEDS CHINA FINANCIALLY Chronicle (Levin), 5 January 1948, Page 5
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in