Washington, July 16.
Soaring sales to the United States gave China an ostensible profit in her foreign trade for the first five months of 1937, it was revealed to-day by figures of the Department of Commerce.
Experts expressed the belief that China had added the larger part of such profits to her already substantial dollar balances in New York and at Pacifid Coast ports. At the present rate, China will enjoy a favourable trade balance of U.S. $60,000,000 for the year 1937.
In the first five months of the year, imports from China into the United States totalled $51,653,000, an increase of 39 per cent. over the level of last year. Exports of this country to China totalled $26,256,000, an increase of 60 per cent. from last year's figures, China also received increased immigrant remittances from Chinese in the United States and many points in Asia, particularly in the rubber, tin and sugar producing regia!
China's financial position, the Department of commerce figures revealed, was further strengthened by the fact that a considerable portion of her imports was on credi quiring only a small cas It was worthy of note that China has been able to resume payment on several outstanding bond issues end st retain substantial foreign balances.
Text read from the printed page and cleaned; old type leaves the occasional error.