Chungking, June b. Since the outbreak of the Sinv-
Japanese hostilities, China has lost 70 per cent. of her textile investment, including 1,800,000 spindles, and 18,000 looms, entailing a financial loss of $100,000,000, according to "New Economics", a fortnightly journal published in this city.
On the other hand, it is stated, despite this terrific blow, the Chinese cotton industry is gradually tecovering, and China still retains roughly 40 per cent. of her pre-war cotton industry.
More than 60 Chinese cotton mills, the journal declares, have either been destroyed, or have been seized by the Japanese; or have been mortgaged and sold to third parties.
Ten mills have been totally destroyed, twelve badly damaged, 21 slightly damaged, and five, four of which are located in the war areas, have been seized by the Japanese, so that their fate is unknown.
Eight have been either sold or mortgaged to foreign firms. The eight mills mortgaged or sold, however. are not considered lost.
The journal stresses the fact that, despite these tremendous setbacks suffered by the cotton industry gradual recovery is taking plac
Text read from the printed page and cleaned; old type leaves the occasional error.