Tokyo, Dec, 9.
Imported materials from abroad acquired by either a credit or barter arrangement will be used in the development of North China, a press message from Peiping quoting a statement of Mr. Sonyu Ohtani, President of the North China Development Company, said today.
Foreign investments in the proposed large-scale economic projects were said to have been declared welcome and opportune by Mr. Ohtani, who recently arrived in Peiping by plane from Tokyo for an inspection of conditions in^ North China, He will spend two weeks there.
It was estimated that Y.1,420,000,000 will be needed for financing the vari-Ous enterprises to be.undertaken by the company's subsidiaries by 1941, the message added.
The North China Development Com. pany, a semi-official concern with a capital of Y.350000000, has one quarter of its capital stock paid-up, but the cash payments total Y.68,000, 000, of which Y.25,000,000 were bursed by the Japanese Government, the message stated,
Text read from the printed page and cleaned; old type leaves the occasional error.