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CENTRAL CHINA DAILY NEWS, 1ST APRIL, 1940.
MINISTER OF FINANCE ISSUES STATEMENT ON
FINANCIAL POLICY OF (NANKING) GOVERNMENT.
311
Mr. Chou Fu-hai, Minister of Finance, in a statement issued on 31st March, says care will be exercised to pursue a financial policy in accordance with the general administrative
policy of the Government. The eight cardinal points of his financial policy are as follows:-
(I) Stabilisation of Finances.
In order to avoid losses
which the population would otherwise suffer, there
will be no interference with the currencies in circu-
lation. Steps will gradually be taken, however, to
improve the situation and to standardise the country's
currency and place it on a sound basis.
(2) Honouring of Loan obligations. All foreign loans
contracted before the return of the Government to
Nanking will be honoured. The nature of the various
loans will be taken into consideration in deciding on
special measures for their amortization.
When peace
throughout the country has been achieved, steps will
be taken for the early amortization of domestic loans.
(3) Readjustment of National Revenues. The Customs adminis-
tration has lacked vigour since the outbreak of hostilities
and steps will be taken for its reorganisation to effect
an increase of revenue.
Measures will also be taken to
improve the situation as regards salt revenues and for
supplies. The Consolidated Tax being one of the most
important national taxes, its collection will receive
careful attention and corrupt measures will be eliminated.
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