893.5151/11–1045: Telegram
The Chargé in China (Robertson) to the Secretary of State
[Received November 9—11:50 p.m.]
1955. For Secretary of the Treasury from Adler. Minister of Finance formally notified me Friday evening that:
“The Chinese Government desires that Chinese fund and property of all kinds that are blocked on the date of issuance of the new general license together with income thereon (re your 1757 of October 29 and my 1911 of November 2) shall remain blocked as heretofore, and that no material change be made in respect thereof other than in pursuance of arrangements made in consultation between the Chinese and American Governments. This seemed necessary especially in view of the yet undetermined extent of enemy and puppet interest in such funds and property.
I note that the new general license would free from foreign funds control such dollar exchange as accrues after the date of issue of the new general license, save in the case of income on property that is blocked on that date. The Chinese Government desires to be included among the ‘specified blocked countries’ under the new license.
I may add that the Chinese Government intends shortly to take action that it is hoped will permit the resumption and expansion of foreign trade and exchange operations.”
Minister of Finance informally indicated that American businessmen in China could sell dollars under paragraph 2 of above message. [Adler.]