West of the city a new town is springing up. The district north of the city which had been set aside by the Chinese for industrial deve-Topment has suffered a severe set back. Many of the plants there are closed, while an extraordinary number of new factories have sprung up In the new industrial district west of the railway. Capital invested in commercial enterprises is estimated to have increased five-fold and the various industries also show invest ments of over five times the amount of capital invested before the Mukden Incident.
Only a short time ago, it was announced that Japanese investments in Manchoukuo, during the last four years, have amounted to over Y.000,- '000,060. A tabulation of these invest ments during the last four years shows a number of items listed Investments in shares," "Sales of shares and debentures of companies in Manchuria." and a number of other items of which a considerable portion have been expended in Muk-
The strong continental policy of Japan is expected to cause Japanese Investments in this country to continue. Reports from the rte ment of Finance indicate that the foreign trade of Manchoukuo now shows a favourable balance, though: the exports do not yet exceed the imports by that liberal margin which obtained in the past.
One factor which cannot but bene-'At commercial enterprises in this district is the payment of heavy subsidies to the Japanese colonists, which are expected to be sent here
plans, accordance with the Army's
Text read from the printed page and cleaned; old type leaves the occasional error.