Referring to the question of what level the Chinese Government will accept as a reasonable rate for the Chinese dollar in terms of foreign currency, the "Chungking Joint Daily News" states: "This is a most complicated problem, depending on China's trade situation and also the international currency situation, "Under present conditions, when the Chinese currency reaches a level which makes it impossible for the Japanese to absorb our foreign exchange reserves, we shall accept that level as a reasonable one."
In conclusion the newspaper urged the Chinese public not to be alarmed over the exchange situation, and gives an assurance that the Chinese Government has a fixed policy and programme concerning currency developments.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.