Questioned regarding the new regulations for the granting of foreign exchange for import.requirements, a spokesman or the Ministry of Finance stated the rates announced by the Bank of China and Bank of Communications were seven pence in terms of sterling and 13% cents in terms of United States dollars for telegraphic. transfers.
In response to enquiries concerning the Chinese Stabilization Fund, Dr. H. H. Kung, President of the Executive Yuan and concurrently Minister of Finance, recalled that the fund was created in the interest of those concerned with China's internal and external trade, and stated the new procedure would not affect the operation of the fund.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.