RICE IN SHANGHAI AT RECORD PRICE
SHANGHAI, October 14.
The price of rice in Shanghai jumped today to the record level of 800,000 Chinese dollars for 1431 b, an increase of nearly 20 per cent. The black market exchange rate has reached the unprecedented figure of 90,000 Chinese dollars for one United States dollar. The Chinese Government is still printing paper notes to finance the civil, war, but private financial experts attribute the new acceuerated depreciation of China’s currency to the Communist military gains _in Manchuria and the flight of capital from Manchuria and North China to Shanghai.
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Greymouth Evening Star, 15 October 1947, Page 7
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98RICE IN SHANGHAI AT RECORD PRICE Greymouth Evening Star, 15 October 1947, Page 7
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