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CONFIDENTIAL
Several Chinese Ministers, including Zhao Ziyang, have said
in recent months that the legislation and regulations which
govern foreign investment in China will be altered and
expanded in coverage. But not much has so far been done.
There will have to be action soon if China is not to acquire
a bad name as a destination for investment and in conse-
quence to forego at least some of the high quality inputs
which she needs for her rapid development.
ECONOMIC INFORMATION
25. Economically, China is no longer a country of mystery. Ministries and other agencies of the central government now
publish many statistics. If too often in the form of percentages
without base figures and sometimes in magnitudes (such as total social product) which need careful interpretation, most experts
consider these to be honest. More statistics are given to the
Specialised Agencies of the United Nations and published in
At the micro-economic level, a great deal is
known to the 700 odd offices of foreign companies in Peking.
their reports.
INTERNATIONAL REACTIONS
26. In spite of this, comparatively little is published in
the British press about the Chinese economy. Not very much is
published in the specialised press either. In two and a half
years, I can remember only two analytical articles: a piece
on the reform programme by Mr Christopher Johnson in the Lloyds
Bank Economic Review and one on the IBRD's recent report on
CONFIDENTIAL
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