The peace plan as outlined by authoritative sources here provides:
1. Wang's recognition of Manchoukuo.
2. Signing of an anti-Comintern alliance between Wang, Japan and Manchoukuo.
3. The stationing of Japanese troops in north China and Inner Mongolia under the anti-Comintern defence agreement.
4. Joint economic development and exploitation of China's natural resources, 5. Japan's pledge to withdraw her troops from central and south China within two years after a peace agreement is arranged between Wang and Japan, 6, Nationalization of China's railways.
Observers saw in the nationalization of China's railways, upon which Wang insisted, an attempt by Wang to provide himself with an important political weapon with which to continue his political war against the Chungking Government.
The terms on which Japan is willing to negotiate peace with Wang were regarded here as representing considerable concessions on her former demands, particularly regarding the agreement to withdraw her troops from the Yangtze and Pearl River areas and to the nationalization of China's railways.
Text read from the printed page and cleaned; old type leaves the occasional error.