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FROM SHANGHAI TO HONG KONG
DEPARTMENTAL NO. 1
His Majesty's Consul-General No. 63
21st April, 1947
D. 5.45 p.m. R. 2.30 p.m.
21st April, 1947 21st april, 1947
125
Repeated to FOREIGN OFFICE NO. 200
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My letter No. 2 January 30th.
Question of Registration China Companies at Hong Kong.
Several Companies now complain vigorously over continued delay in permitting conversion of capital and transfers from the United Kingdom to Hong Kong registries and over the lack of [grp. undec: ?official information] theroon.
The Shanghai Bus Company complain that non-conversion of their inadequate Chinese dollar capital delayed pending annual general meeting causes onerous rate of Chinese income tax makes the 8% dividends worthless and complicates allowance for depreciation in the balance sheet. Last point is urgent as the Chinese Government accountants are expected to examine companies books shortly.
What reply shall I give to companies?