793.94/7302: Telegram
The Consul General at Shanghai (Cunningham) to the Secretary of State
[Received 5:20 p.m.]
579. 1. The Chinese economic inquiry group to Japan which has been under discussion for some time finally sailed on October 6 for Nagasaki for the expressed purpose of investigating economic and trade development in Japan. On sailing, the group issued a statement expressing the hope that the result of their investigations may lead up to definite efforts on both sides for a real Sino-Japanese economic rapprochement. The group, which was feted by Shanghai Chinese and Japanese organizations prior to departure and seen off by Minister of Finance Kung and [Administrative Vice] Minister of Finance Hsu Kan, consists of very prominent Shanghai bankers, Tu Tso-ting, chairman, the General Chamber of Commerce of Shanghai and O. S. Lieu, general manager of the China Merchants’ Steam Navigation Company. Wu Ta-chuan, general manager of the Yi Yieh Commercial Bank, Sung Han-chang, the managing director of the Bank of China and Tang Shou-min, general manager of the Bank of Communications are among others of the group of which Wu is chairman.
2. The Bank of China, the Bank of Communications and the China Merchants’ Steam Navigation Company are Chinese Government controlled organizations. The latter company is apparently interested in the purchase of additional ships (see Department’s instruction of August 26,97 file 893.852/17). O. S. Lieu has recently been active in the proposed formation of a sales monopoly for matches in Central and North China involving Japanese participation and is reported to be working on a similar proposal in regard to coal.
Repeated to Peiping and Nanking.
- Not printed.↩