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TREATY FOR THE SETTLEMENT RELATING TO SHANTUNG

The mode and terms of such arrangements shall be determined by the Joint Commission provided for in Articie II. of the present Treaty.

SECTION VIII.—Opening of the Former German Leased Territory of Kiaochow

Art, XXIII.-The Government of Japan declares that it will not seek the -establishment of an exclusive Japanese settlement, or of an international settlement,

in the former German Leased Territory of Kiaochow.

The Government of the Chinese Republic, on its part, declares that the entire area of the former German Leased Territory of Kiaochow will be opened to foreign trade and that foreign nationals will be permitted freely to reside and carry on commerce, industry and other lawful pursuits within such area.

Art. XXIV. The Government of the Chinese Republic further declares that vested rights lawfully and equitably acquired by foreign nationals in the former German Leased Territory of Kiaochow, whether under the German régime or during the period of the Japanese administration, will be respected.

All questions relating to the status or validity of such vested rights acquired by Japanese subjects or Japanese companies shall be adjusted by the Joint Commission provided for in Article II. of the present Treaty.

SECTION IX.-Salt Industry

Art. XXV.-Whereas the salt industry is a Government monopoly in China, it is agreed that the interests of Japanese subjects or Japanese companies actually engaged in the said industry along the coast of Kiaochow Bay shall be purchased by the Government of the Chinese Republic for fair compensation, and that the exportation to Japan of a quantity of salt produced by such industry along the said coast is to be permitted on reasonable terms.

Arrangements for the above purpose, including the transfer of the said interests to the Government of the Chinese Republic, shall be made by the Joint Commission provided for in Article II. of the present Treaty. They shall be completed as soon as possible and, in any case, not later than six months from the date of the coming into force of the present Treaty.

SECTION X.-Submarine Cables

Art. XXVI.-The Government of Japan declares that all the rights, title and privileges concerning the former German submarine cables between Tsingtao and Chefoo and between Tsingtao and Shanghai are vested in China, with the exception. of those portions of the said two cables which have been utilized by the Government of Japan for the laying of a cable between Tsingtao and Sasebo; it being under- stood that the question relating to the landing and operation at Tsingtao of the said Tsingtao-Sasebo cable shall be adjusted by the Joint Commission provided for in Article II. of the present Treaty, subject to the terms of the existing contracts to which China is a party.

SECTION XI.-Wireless Stations

Art. XXVII.-The Government of Japan undertakes to transfer to the Gov- ernment of the Chinese Republic the Japanese wireless stations at Tsingtao and Tsinanfu for fair compensation for the value of these stations, upon the with- drawal of the Japanese troops at the said two places, respectively.

Details of such transfer and compensation shall be arranged by the Join Commission provided for in Article II. of the present Treaty.

Art. XXVIII.-The present Treaty (including the Annex thereto) shall be ratified, and the ratifications thereof shall be exchanged at Peking, as soon as possible, and not later than four months from the date of its signature.