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No objection was taken to United States
policies in the first instance or to their
continuation when insurances were renewed with
the same companies. When however British
companies drew attention to the intensive
efforts of United States companies to obtain
control of insurance business in Hong Kong it
was felt that the nature and purpose of the Trade
Loan Fund, namely assistance to British trade
in Hong Kong to tide over the period of acute
depression caused by the Canton Boycott, fully
justified the Government's decision to confine
grants in future to British insured concerns,
The decision was not enforced retrospectively,
and as grants from the Trade Loan Fund have for
some time ceased, I trust that further friction
on this point will not arise.
No comments yet.
Private notes are available after approval.