COMMUNISTS EXPORT SILVER AND GRAIN FROM CANTON TO BOLSTER DWINDLING FOREIGN EXCHANGE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00809A000700030633-4
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 2
• Document Creation Date: December 22, 2016
• Document Release Date: October 14, 2011
• Sequence Number: 633
• Publication Date: January 4, 1952
• Content Type: REPORT

Sanitized Copy Approved for Release 2011/10/17: CIA-RDP80-00809A000700030633-4
CLASSIFICATII CONFIDENTIAL CONFIDENT' At
URITY INFORMATION
INFORMATION FROM
FOREIGN DOCUMENTS OR RADIO BROADCASTS CD NO.
COUNTRY China
DATE OF
SUBJECT Economic - Foreign trade, exchange
HOW
PUBLISHED Daily newspaper
WHERE
PUBLISHED Hong Kong
DATE
PUBLISHED 15 Nov 1951
LANGUAGE Chinese
Trlr OOCultly .1TYrr ...rr-TO. ADTICTIB Trr rrnrrlI .Rrr.
, irr ur... rlT[r tltrlr TrI .&A.- 01 lOlorrrr ,n rO
r. r. c..n w. u.v rrr... m....... uor orrrr--0.
0, In .rTOfr lr ?r1 wm TO ?r ..A-008- PERSON Ir PRO.
r..mo Of LAW. unoo - or rr.. ,ou .. .roll.....
DATE DIST. 84- 19 .
COMMUNISTS EXPORT SILVER AND GRAIN FROM CANTON
TO BOLSTER DWINDLING FOREIGN EXCHANGE
To relieve the shortage of foreign exchange, the Communists in
Kwangtung have collected silver and grain for immediate export to Hong
Kong and Macao. Some 1,600 cases of silver are now stored in the
People's Bank in Canton for that purpose. About 100,000 silver coins
from various areas in Kwangtung, as well as an unknown quantity from
Honan, are on their way to Canton.
Part of the first shipment of about 1,500 tons of rice has
arrived in Macao from Shih-ch'i. The second shipment of about 3,500
tone will follow soon. The stockpiling of about 100,000 bags of rice
and the collection of the autumn harvest for shipment abroad has
created resentment among the people.
Canton, 14 November -- To replenish the dwindling foreign exchange, the
Communist authorities in Kwangtung have ordered the collection of silver and
silver coins from various hsien in Kwangtung in exchange for people's notes.
It is reported that over 1,600 cases of silver have been received from T'ai-shan,
Hsin-hui, Tien-pai, Lo-ch'ang, Yin-te, Ch'u-chiang, Ssu-hui, and other hsien and
cities. They are now being stored in the vaults of the People's Bank in
Nan-tai, Canton. About 100,000 silver yuan coins are expected from the Ho-yuan
and Wu-hua areas. The accumulated silver is to be shipped abroad immediately upon
release by the Committee of Finance and Economics of the Central and South China
Regional District. The committee has ordered the Ct'ang-sha Branch of the
People's Bank to ship its available silver (amount not known) to Canton, which
is expected to arrive soon.
(Chung-yang She) -- Due to the shortage of foreign exchange, the Chinese
Communists are 'ollowing stricti: the trade policy of export before import.
During the past 2 months, foreig. exchange granted to importers in Canton
amounted to less than 5 million Hong Kong dollars. Requests for foreign
exchange for the fourth quarter by the traders were submitted to the Canton
Foreign Trade Bureau in early October, but none has yet been granted. To acquire
- 1 -
CLASSIFICATION CONFIDENTIAL CONFlDENT;,A
Sanitized Copy Approved for Release 2011/10/17: CIA-RDP80-00809A000700030633-4
 Sanitized Copy Approved for Release 2011/10/17: CIA-RDP80-00809A000700030633-4
111111
CONFIDENTIAL
foreign exchange for essential imports, Communist authorities have decided
to export grain and food products to Hong Kong and Macao. Part of the first
Chung-shan, 14 November -- Autumn rice has not been reaching the market in
any large quantity even though the harvest has been in progress for quite some
time in Chung-shan, Tung-kuan, Pao-an, P'an-yu, Nan-bai, and other areas in
Kvangtung. The reason is that the Communists have ordered the branch food bureau
in Chu-chiang to stockpile all the available grains at Shih-ch'i and Tai-p'ing
for export to Hong Kong and Macao for the purpose of acquiring foreign exchange.
It is estimated that over 100,000 bags (150 to 180 cattier Jane catty equals
1 1/3 pounds] per bag) of rice are being stored in the warehouses for shipment.
The farmers are eating miscellaneous foods and porridge since the autumn harvest
has not yet been completed. The policy of exporting the needed grain has created
popular resentment against the Communists.
2 -
C0 N
I J
Sanitized Copy Approved for Release 2011/10/17: CIA-RDP80-00809A000700030633-4