RAILWAYS FOR CHINA.

Taranaki Daily News, Volume LV, Issue 133, 23 October 1912, Page 8

RAILWAYS FOR CHINA.

SUN YAT SEN'S PROGRAMME. TO OPEN UP THE COUNTRY. Pekin, September 12. The project of a great scheme of Chinese railways, which holds the foremost place in Dr. Sun Yat Sen's programme for the modernisation of China, has commanded the support of the Pekin i Government, and may involve a great extension of the privileges of foreigners in the country, with possibilities of an immense increase in China's foreign trade. The Government has authorised Dr. Sun Yat Sen to establish a corporation to carry out a system of national railways, cdvering territory 70,000 miles in extent. Mixed Chinese and foreign companies will be granted concessions throughout China proper for periods of about forty years, after which time the lines are to revert to China. Similar concessions are to be given to foreigners for the intermediate districts, but the railways ill the frontier provinces will be exclusively under Chinese control and will be financed through foreign loans. Dr. Sun Yat Sen's other proposals, which, however, are thus far without Government sanction, include the opening of the whole of China proper to foreign soterprises, the foreigners to be governed by Chinese laws, through special courts. French, Germ,,ii and American bank* will participate with Lloyds' Bank in the new loan to China of £10,000,000, the agreement for which was recently signed. The terms of this agreement include the starting of a bank having its head office in London, with a prominent British financier as chairman of the board of directors, with a subordinate board at Pekin.