• Short Summary

    A VISNEWS CAMERA-TEAM RECENTLY VISITED THE PEOPLE'S REPUBLIC OF CHINA. THEY VISITED SHANGHAI, TO FIND?

  • Description


    MR. LIU'S HOUSE IN SHANGHAI AND INTERVIEW.



    TRANSCRIPT: REPORTER: "HOW MUCH CAPITAL DO YOU HAVE INVESTED?"



    LIU: "WELL ABOUT........"



    REPORTER: "THAT'S ABOUT THREE MILLION POUNDS. WHAT RATE OF INTEREST DO YOU GET?"



    LIU: "I GET FIVE PER CENT."



    REPORTER: "VERY ROUGHLY ABOUT 150,000 POUNDS A YEAR."



    LIU: "YES".



    REPORTER: "HOW MUCH TAX DO YOU PAY ON THAT?"



    LIU: "NONE."



    REPORTER: "SO YOU GET 150,000 POUNDS A YEAR TAX FREE. HOW LONG DO YOU THINK THIS SYSTEM IS LIKELY TO CONTINUE?"



    LIU: "WELL AS FAR AS I KNOW, UNTIL 1965. WHAT WILL HAPPEN AFTER 1965 I DON'T KNOW YET."



    REPORTER: "IT SEEMS TO ME TO BE VERY EXTRAORDINARY IN A COMMUNIST COUNTRY LIKE THIS, MR. LIU, THAT YOU SHOULD BE ALLOWED TO DRAW 150,000 POUNDS A YEAR TAX FREE. HOW DO YOU ACCOUNT FOR IT?"



    LIU: "WELL, BECAUSE THE GOVERNMENT WANTS TO GIVE US A PERIOD SO THAT WE CAN ADJUST OURSELVES TO THE NEW ENVIRONMENT, SO LONG AS WE ARE WILLING TO WORK FOR THE COUNTRY."



    REPORTER: "WHAT DOES A RICH MAN, LIKE YOURSELF, MANAGE TO SPEND HIS MONEY ON, MR. LIU?"



    LIU: "WELL....SOMETIMES BUY NEW CARS, HAVING THE HOUSE REPAIRED, TRAVELLING ALL OVER CHINA. I STILL PLAY TENNIS, SWIMMING, BUY NEW THINGS. CHINA NOW PRODUCES MANY MORE NEW THINGS. THESE THINGS GET BETTER AND BETTER EVERY DAY."



    REPORTER: "THANK YOU VERY MUCH."




    Initials AA/V/BHH/BB



    Script is copyright Reuters Limited. All rights reserved

    Background: A VISNEWS CAMERA-TEAM RECENTLY VISITED THE PEOPLE'S REPUBLIC OF CHINA. THEY VISITED SHANGHAI, TO FIND SURPRISINGLY THAT CAPITALISTS STILL FLOURISH IN THE CITY.

    SHANGHAI'S SOCIAL CHARACTER HAS GREATLY CHANGED IN THE LAST 30 YEARS. IN THE 1930'S IT WAS KNOWN AS A CENTRE OF GANGSTERISM AND A CITY OF BEGGARS AND PROSTITUTES. NOW IT IS CLAIMED THAT NOT A SINGLE NIGHT-CLUB EXISTS.

    IN THIS INTERVIEW, MR. N.N. LIU, TALKS OF CHINA TODAY AND EXPLAINS HIS POSITION. EDUCATED AT THE BRITISH UNIVERSITY, CAMBRIDGE, HE STILL MANAGES HIS OWN MATCH FACTORY, AND THERE ARE 90,000 LIKE HIM. ON HIS INVESTMENT OF THREE MILLION POUNDS HE RECEIVES INTEREST OF 150,000 POUNDS TAX FREE EACH YEAR.

  • Tags

  • Data

    Film ID:
    VLVA6UHX1ICWLZSYI6RPX832GK65Q
    Media URN:
    VLVA6UHX1ICWLZSYI6RPX832GK65Q
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    30/12/1964
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:02:44:00
    Time in/Out:
    /
    Canister:
    N/A

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