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China (British Claims)

Volume 244: debated on Tuesday 11 November 1930

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asked the Secretary of State for Foreign Affairs if his attention has been called to the fact that, while the proceeds of the Boxer indemnity are to be paid to the Hong Kong University and the Universities' Chinese Committee in London, the Chinese Government 8 per cent. 10-year Sterling Treasury Bills, 1924–28 (Marconi), the Chinese Government 8 per cent. Sterling Treasury Notes, 1925–29 (Vickers), and the Chinese Government engagements to bankers and others are unpaid; and if he will give an undertaking that no decision will be taken in this matter until all the obligations of the Chinese Government have been fully met?

The agreement recently concluded with the Chinese Government, subject to the approval of Parliament, as to the disposal of the Indemnity funds contemplates the payment of a comparatively small proportion of those funds to Hong Kong University and the Universities' China Committee. Details will be found in the White Paper to be issued shortly. His Majesty's Minister in China has made repeated representations on behalf of British holders of Chinese Government obligations which are in default, and their claims will continue to be pressed. This question is, however, entirely distinct from that of the remission of the Indemnity, which, as the hon. Member is, no doubt, aware, was promised by His Majesty's Government in December, 1922.