Foreign Relations of the United States, 1949, The Far East: China, Volume IX

893.515/12–2049: Telegram

The Chargé in China (Strong) to the Secretary of State

Hong Kong, December 20, 1949—10 a. m.
[Received December 20—8:05 a. m.]

Cantel 1339. At dinner December 15 S. Y. Liu, former Finance Minister, stated that prior removal of gold stocks from West China to Taiwan approximately 1 million ounces gold stored Taiwan plus 800,000 ounces stored Bank of Taiwan to support currency. Estimated 600,000 to 700,000 owners [ounces?] removed from West China.

Thus at end November total gold holdings of Chinese Government estimated about 2½ million ounces. Liu states other types foreign exchange held in negligible amounts only.

Strong