CHAPTER TWO

Sino-Soviet Relations in the Years of the
Molding of the PRC (1949–1952)

The long years of struggle by the Chinese people for their liberation were crowned by a historical victory. The PRC was proclaimed on October 1, 1949. The Chinese revolution dealt a crushing blow against positions of imperialism in Asia, helped change the balance of power in the world arena in favor of socialism, and gave new impetus to the national liberation movement in the colonial periphery of the capitalist world.

The victory of the Chinese revolution was made possible by an extremely favorable international situation. The defeat of German Fascism and Japanese militarism resulted in the formation and further development of the world socialist system, the offspring of the international proletariat. The Chinese revolution received constantly increasing support from the brotherly states, from the world Communist movement, and particularly from the Soviet Union.

1. First acts in relations between the USSR and the PRC
and their significance

The CC CPSU and the Soviet government made every effort, from the very inception of the PRC, to strengthen Sino-Soviet friendship, and to develop collaboration between the USSR and the PRC.

The Soviet Union was the first state to announce recognition of the new People’s China and establishment of diplomatic relations between the USSR and the PRC. “The Chinese government and the Chinese people,” read the note from the PRC Ministry of Foreign Affairs in connection with the establishment of diplomatic relations, “are experiencing unbounded joy because of the fact that today the Soviet Union became the first friendly power to recognize the People’s Republic of China.”¹

The Soviet Union attached great importance not only to the material content of its international assistance to the Chinese people, but also to the creation of a strong basis in international law for Sino-Soviet relations. The Treaty of Friendship, Alliance, and Mutual Assistance between the USSR and the PRC, signed on February 14, 1950, was of extreme importance in strengthening the PRC’s international position and developing Sino-Soviet friendship. The treaty embodied the highest principles of complete equality, respect for territorial integrity, state independence, national sovereignty, and noninterference in each other’s internal affairs, and was a model for a new type of state relationship inherent between brotherly socialist countries. In his telegram of greetings to Soviet leaders on the occasion of the first anniversary of the signing of the treaty, Mao Tse-tung said:

The signing of the Treaty of Friendship, Alliance, and Mutual Assistance between China and the USSR not only was of tremendous help in building the new China, it was a strong guarantee in the struggle against aggression and for the preservation of peace and security in the Far East and throughout the world.²

Taking into consideration the root changes in the situation in the Far East after formation of the PRC, the Soviet government acceded to the wishes of the Chinese and created a solid legal basis with respect to questions concerning the Chinese Changchun Railroad, Port Arthur, and Dal’niy.

The agreement reached on these questions, signed on February 14, 1950, stipulated that the Soviet government would transfer to the government of the PRC all of its rights in connection with the joint administration of the Chinese Changchun Railroad, together with all railroad property, no later than the end of 1952, and would do so without compensation.

During this same period, the governments agreed that Soviet troops would be withdrawn from the joint naval base at Port Arthur, with all base installations to be transferred to the government of the PRC.

The government of the USSR further agreed that all property it used or rented in Dal’niy would be transferred to the government of the PRC in 1950, under terms that would be determined within three months from the date of the agreement.

Equally important for strengthening friendly ties between the USSR and the PRC was the agreement whereby the Soviet Union granted the government of the PRC a credit in the sum of 300 million American dollars, or 1,200 million rubles.^* Soviet deliveries to the PRC were designed to restore and reconstruct the most important branches of the national economy. It was anticipated that over a five-year period (1950-1954) deliveries from the Soviet Union to China equal to the total credit would include equipment and materials for electric stations, metallurgical and machine building plants, coal mines, rail and road transportation, and for other branches of the Chinese economy.

Recognizing the tremendous destruction to China’s national economy resulting from extended military operations on China’s territory, the Soviet government advanced China credit on unusually favorable terms. China would pay only one percent for the use of the credit, terms without precedent in world credit practice.

The Soviet Union assumed an obligation to assist the PRC in building 50 large industrial enterprises.

An agreement with respect to the establishment of joint Soviet-Chinese stock companies was signed on March 27, 1950, and included:

(a) the “Sovkitmetall” Company (Chung-Su Chin-shu Kung-sze),^* founded to prospect, survey, extract, and process nonferrous and rare metals in Sinkiang province;

(b) the “Sovkitneft’ ” Company (Chung-Su Hsi-you Kung-sze), founded to prospect, survey, and extract oil, gas, and related petroleum products, and to refine them, in Sinkiang province;

(c) the SKOGA (Chung-Su Min-hang Kung-Sze) Company for the operation of the following air lines: Peking-Shengyang (Mukden)— Changchun—Harbin—Tsitsihar (Lungkiang)—Hilar—Chita; Peking— Taiyuan — Sian — Lanchow — Suchow — Hami — Urumchi — Kuldja —Alma Ata; Peking—Wuchuan (Kalgan)—Ulan Bator—Irkutsk.

Under terms of the agreements, which were to run for 30 years, the joint Soviet-Chinese companies were set up on an equal footing, each side participating equally in the capital of the companies, and in administration of their affairs. Direction of the companies was to be in the hands of a representative of each side in turn.

These companies, in addition to production problems faced during the initial period of restoration of the Chinese economy, agreed to train qualified technical and administrative cadres from among the Chinese.

This was accomplished by companies establishing technical schools and courses or by sending Chinese citizens to schools in the Soviet Union. The newspaper Jen Min Jihpao (People’s Daily), on October 13, 1954, wrote:

Thanks to the use of advanced Soviet experience in economic construction and first-class techniques, success in returning things to normal and in expanding the work of the enterprises administered by these companies was quick in coming. Imperialists very often resort to the export of capital to colonial and semicolonial countries in order to carry out economic aggression against those countries. However, the capital investment of the socialist Soviet Union in the companies mentioned above is an entirely different matter, and is for completely different purposes. These purposes are to use money and equipment to help develop those natural riches we have, and which we cannot develop with our own resources, or to return to normal operation those enterprises we have which we would have difficulty in operating with our own resources, while at the same time helping to create conditions for the economic independence of the people of our country. . . . The Soviet government has helped us put the joint companies in business, has trained cadres, given us the benefit of its experience, and now is giving us our share of participation in the work of these companies. That is, we now have enterprises subordinate to these companies that will wholly become state enterprises of our country. Comparing these facts with the economic aggression of the imperialists with respect to old China, our people really are hard pressed to express their deepest appreciation to the Soviet Union for its sincerely noble help to our country.

A trade agreement establishing the overall legal bases for trade relationships between the USSR and the PRC was signed in Moscow on April 19, 1950. Under the terms of this agreement, the USSR was to export to China gasoline, kerosene, lubricating oils, miscellaneous machinery, tools, equipment, transportation equipment, fuel, cotton, and other raw materials necessary for the restoration and development of the economy of the PRC.

A number of other agreements were concluded between the USSR and China in 1950, including an agreement on post, telegraph, and telephone communications, an agreement on the leasing of Soviet films in China, and an agreement on river navigation and the corresponding rules.

Assessing the value of the treaties and the legal documents signed by our countries during this period, Mao Tse-tung told a session of the government of the PRC that:

The new Sino-Soviet treaties and agreements have legally strengthened the friendship between the great peoples of China and the Soviet Union, and have given us a dependable ally. They have simplified our work in the field of internal construction and have simplified the taking of joint counteraction against imperialist aggression in the name of preserving peace throughout the world.³

2. Economic assistance from the Soviet people in the first years of the molding of the PRC

The support given the PRC by the Soviet Union was of extreme importance in what for the Chinese people were very difficult years as they molded the people’s power. The situation in the country was extremely difficult as a result of the long anti-Japanese and civil wars, and because of open plundering by imperialists. The productive capacity, poor enough to begin with, had been destroyed and people were experiencing hunger and poverty. The following data will provide some idea of the economic situation in the young republic. The PRC in 1950 mined 36 million tons of coal, and produced 877,000 tons of pig iron and 584,000 tons of steel. Industrial production lagged badly behind the maximum output of 1942–1943. Coal mined was down to 61 percent of that level, pig iron to 46 percent, and steel down to 63 percent.

The country’s agriculture was badly run down. The harvest of food crops in 1949 was less than 75 percent of prewar figures, and the cotton crop had been cut almost in half.

The material position of the population was very serious. The price of one chin (about 400 grams) of chumisze, a type of millet, rose by a factor of 15.3 in Peking, and by a factor of 14 in Tientsin, between April 1, 1949 and November 1, 1949. In this same period the price of rice increased by factors of 13.8 and 11.5, respectively, in these cities. In November 1949, as compared with the end of October, the prices of foodstuffs rose once again, this time by a factor of between 3 and 4, while the prices of industrial goods rose by a factor of between 2 and 3. In 1950 the Central People’s Government adopted a budget that showed an 18.9 percent deficit.

This situation was aggravated in 1951, when the imperialists imposed a trade embargo on China. In December 1949 the NATO countries and Japan had created a Coordinating Committee, the purpose of which was to monitor and observe exports of goods with a “strategic purpose” to the socialist countries, including the PRC. This committee became the basis for the establishment of the China Committee, the membership of which also included representatives of Australia, the Latin American states, and a number of other countries. The committee periodically published lists of “strategic goods,” the export of which to the PRC, and countries adjacent, was forbidden. These measures deprived China of the possibility of buying materials, machinery, equipment, and other goods the country needed in capitalist markets. Moreover, use of middlemen resulted in additional expenditures of hard currency, which the PRC lacked.

Just as during the years of struggle for liberation, the Soviet people, still not recovered from unprecedented destruction in the Patriotic War, once again extended to China the hand of brotherly assistance and began to render all sorts of help in restoring and developing their economy.

Soviet experts, noted Soong Ch’ing-ling,

brought to China precious experience in solving practical problems, whatever their magnitude. They brought with them methods based on the highest scientific achievements, and a wealth of experience in working for the good of the people. Many of them participated in the restoration of the economy after the October socialist revolution. All of them have participated in the heroic building of socialism and are participating in the preparations for communism in the USSR. The conditions which we have in China, and which we must overcome, already are familiar to them and have been overcome by them in their own time. They are coping with the task imposed upon them with the greatest of enthusiasm, the task of helping the Chinese people to master this experience for the building of a new China.⁴

Trade with the Soviet Union was of exceptional importance to the PRC. The USSR, in ninth place in China’s exports in 1948, rose to third place in 1949, and reached first place by the end of 1950. The role of the Soviet Union in China’s imports increased from 1949. The share of the USSR in those imports rose from 4.86 percent in 1949 (fifth place) to 20.4 percent in the first nine months of 1950 (second place).

A series of new agreements between the USSR and the PRC was signed in 1951, indicative of further development in Sino-Soviet collaboration.

An agreement on rail communication, envisaging the direct transportation of passengers, baggage, and freight, was signed on March 14. An agreement on establishing the rate of exchange for the ruble with respect to the Chinese yuan was signed on June 1. Under the terms of this agreement the rate of exchange for the ruble was set directly in terms of the yuan on the basis of the gold content of the ruble and of the official price of gold in Peking, rather than in terms of the American dollar rate of exchange. The agreement with respect to the establishment in Dal’niy of the joint Sino-Soviet ship repair and shipbuilding stock company, “Sovkitsudstroy,” was concluded in Peking on July 28, 1951. The company was founded on an equal footing for a period of 25 years. Simultaneously, both sides exchanged notes in accordance with which the Chinese government undertook to maintain the volume of Soviet orders on the “Dal’dok” Yard for the first three years at the levels of orders actually completed for Soviet organizations between 1949 and 1950.

These agreements not only helped stabilize the economy and finances of People’s China, but also served to strengthen China’s international position.

A clear example of the close collaboration between the USSR and the PRC was the broad trade turnover between them, a turnover that increased monthly. In 10 months of 1951, the trade turnover between the USSR and the PRC was 77 percent above that for the same months in 1950 (including an increase in imports by the PRC from the USSR as compared with the same period in 1950 of 117 percent, and an increase of 54 percent in exports to the USSR). In September 1951 the USSR’s share was 40.7 percent of China’s imports and 41.12 percent of its exports. Thanks to the assistance provided by the Soviet Union, the development of the national economy of the PRC in 1951 was accompanied by a further strengthening of planning principles and an improvement in the quality of planning. The government of the PRC, with the assistance of Soviet experts, made a number of decisions and approved a series of documents of great importance to improving and intensifying planning efforts at the center, as well as locally. In July 1951, for the first time in the history of the PRC, a unified annual state plan was drafted for restoration and development of the national economy.

The collaboration with the Soviet Union and its comprehensive aid and support made 1951 a year of further strengthening and growth in the socialist sector of the national economy of the PRC. The high proportion of the socialist sector in industry will be seen from the following breakdown (in percents) :

In accordance with the agreement of February 14, 1950 the Soviet Union began large shipments of heavy industrial equipment to the PRC. In 1951 the value of this equipment was 30.9 million rubles, and in 1952 the figure was 36.6 million rubles.^*

Later on shipments of industrial equipment became the main item of Soviet exports to the PRC. Shipments of equipment also included assistance in prospecting and planning efforts, activating enterprises, mastering production of new types of industrial products never before manufactured in China, participation in erection and adjustment of equipment, and training cadres.

A great many qualified Soviet experts participated in development and implementation of the plan for hydraulic engineering construction work on the largest rivers in the PRC and in restoration of the railroads.

The struggle of the Soviet Union to support the PRC against the aggressive plans of the United States took on special meaning and importance in those years. The decisive actions taken by the USSR in the United Nations Organization to mount a broad international campaign against the American occupation of Taiwan are well known.

Assistance provided by the Soviet Union in these difficult years for the Republic was not limited to diplomatic measures and development of comprehensive collaboration in the fields of economics, science, culture, and military construction. There were, as well, direct military actions that cooled the aggressive intentions of the imperialists.

†In 1949–1950 large aviation forces of the Soviet Union, at the request of the government of the PRC, provided air cover for Shanghai, East China’s industrial center. Flights by the Americans and by the forces of Chiang Kai-shek were disrupted. They were given a stern lesson by Soviet air aces.

In 1950, also at the request of the government of the PRC, our country transferred crack aviation divisions to Manchuria, which provided dependable air cover against enemy air attacks for the industrial centers in Northeast China. These divisions shot down scores of American aircraft in the air battles that took place.⁵

There was close military collaboration between the USSR and the PRC during the period of military operations in Korea. The Soviet Union provided the People’s Army of Korea, and the Chinese volunteers, with an uninterrupted supply of weapons, ammunition, fuel, food, and medicines. Soviet advisors, including eminent military leaders, were present in Korea. Soviet pilots participated in the battles with the aggressors.

3. Sino-Soviet relations at the end of the Restoration Period

The Soviet Union engaged in a variety of forms of collaboration with China in the first years of the existence of the PRC. Personal contacts between leaders of the two countries were important for strengthening political ties between them.

Attending the signing of the Treaty of Friendship, Alliance, and Mutual Assistance in Moscow was a delegation to the Soviet Union that included Mao Tse-tung, Chou En-Iai, and other prominent state and party leaders of the PRC. Liu Shao-chi (it was he who headed the delegation of the Communist Party of China to the 19th Congress of the Communist Party of the Soviet Union), and Marshal Chu Teh were frequent visitors to the USSR. In turn, leading Soviet figures often made friendly visits to the PRC.

Important to Sino-Soviet relations were Soviet talks with the Chinese government delegation, headed by Chou En-lai, which visited Moscow in September 1952. These talks resulted in the sides agreeing to take steps to have the Soviet Union hand over to the PRC, without indemnity and in full title, its rights concerning joint administration of the Chinese Changchun Railroad. The Ministers of Foreign Affairs of the USSR and of the PRC simultaneously exchanged notes concerning the question of continuation of joint use of the Chinese naval base in Port Arthur. The results of the talks were assessed by the Chinese government as acts of disinterested and brotherly assistance on the part of the Soviet Union.

The entire length of the Chinese Changchun Railroad was restored between 1950 and 1952. The Soviet government handed over to the government of the PRC all rights concerning the administration of the railroad on the date fixed by the agreement, December 31, 1952. Accordingly the main lines of the Chinese Changchun Railroad, those running from Manchuria Station to Pogranichnaya Station (Suifenho) and from Harbin to Dal’niy and Port Arthur, together with railway installations and structures, rolling stock, electric stations and communication lines, as well as other enterprises and institutions servicing the railroad were transferred to the Chinese.

Mao Tse-tung, in his telegram to the head of the Soviet government, J. V. Stalin, evaluated this act as a “tremendous contribution on the part of the Soviet Union to railroad building in China.” Chou En-lai, in a speech made on the occasion of the signing of the final protocol concerning the transfer of the Chinese Changchun Railroad, said:

The Chinese people will never forget this brotherly assistance on the part of the Soviet people. It should be pointed out, in particular, that the sincere and patient giving of their knowledge by our Soviet comrades has enabled the Chinese employees and workers of the Changchun Railroad to absorb the advanced experience of the Soviet Union and has helped us train many cadres for railroad building in the new China.

The newspaper Jen Min Jihpao, in its lead article on December 31, 1952, said that in the fact of handing over to China the Changchun Railroad without compensation, and in the agreement to extend the set term for the withdrawal of Soviet troops from Port Arthur, “there is yet greater evidence of the respect the government of the Soviet Union has for the governmental independence and national honor of our country.”

And a representative of the PRC told the Soviet-Chinese Commission charged with effecting the transfer of the Chinese Changchun Railroad:

We sincerely and wholeheartedly thank the Soviet government . . . for its tremendous, unselfish, assistance to our Chinese People’s Republic, to our Chinese people. The fact of the transfer of the Chinese Changchun Railroad is yet another tangible piece of evidence of the high regard the Soviet government has for the state sovereignty and national dignity of the Chinese people, as well as of the unlimited faith the Soviet government has with respect to the friendship and alliance between China and the USSR. . . .

When the government of the PRC decided, in 1952, to start production of natural rubber in its own country, the government of the Soviet Union advanced to China a credit in the sum of 8.55 million rubles to finance the cost of developing rubber plantations on Hainan Island and in the coastal regions of the southeastern part of the country.

Trade relations between the USSR and the PRC continued to develop in 1952. The total trade turnover between the USSR and the PRC almost doubled as compared with 1950.⁶

The Soviet Union increased its technical assistance to the PRC substantially. A great deal of assistance was forthcoming in mastering the complex technical equipment provided, as well as in construction of new industrial enterprises. This was in addition to prospecting and planning done in 1952. For the most part the Soviet Union met its obligations to provide technical assistance in 1952; the following large projects began operations: a flax-spinning combine in Harbin; an automobile repair plant in Urumchi; a 25,000-kilowatt electric station in Fursin. The production planned for six automobile repair shops and factories that began operations at the end of 1951 was reached in 1952. Some 1,000 Soviet specialists were at work in the PRC in 1952 (over 400 of these specialists were there under contract for purposes of providing technical assistance, the others in accordance with the terms of the agreement of March 27, 1950).

Po Yi-po, Candidate Member of the Politburo of the CC CCP, in his report to the assembly celebrating the third anniversary of the signing of the Treaty of Friendship, Alliance, and Mutual Assistance between the USSR and the PRC, characterized the work done by the Soviet specialists as follows:

The help given us by the Soviet specialists is extremely diverse, and every measure that we are undertaking in our economic life is being taken with the help of their advanced technical guidance. It would be impossible to list all the advantages our country has obtained as a result of their help. Were it not for the unselfish help from the Soviet specialists, it would have been very difficult for us to have achieved those tremendous successes in the restoration and reconstruction of the national economy of our country that we have over the past three years, beginning with the healing of the wounds inflicted by the war, and ending with basic improvements in our financial and economic position and in the creation of the different conditions needed to carry out the First Five-Year Plan of construction.⁷

Direct participation of Soviet specialists resulted in the reorganization of the system of higher education, courts, and judicial system, in the creation of new ministries, and in a system of state planning.

The Soviet people helped authorities in the PRC publish over 3,100 Soviet books in the Chinese language in the first three years. These titles included 943 on social sciences and 348 dealing with questions of culture and education.⁸ In the fall of 1952 the PRC began to reconstruct all its educational programs and curricula, using as a model Soviet higher institutions of learning. It also embarked on a major program of translating the materials used in the higher institutions of learning in the USSR. The workers assigned in 1952 to the Agricultural Institute of Northeast China, for example, translated into Chinese and distributed to all PRC higher institutions of learning in the field of agriculture Soviet curricula covering 141 disciplines.

Popularization of Soviet experience in different fields of socialist construction was widely organized under the slogan, “Learn from the Soviet Union.” One manifestation of this program in the first years after liberation was the mass movement to study the Russian language. In the first two years of its existence, the people’s authorities in the PRC opened 12 Russian language institutes, with 5,000 students enrolled.⁹ In addition, 57 institutions of higher learning had divisions and courses in the Russian language in 1952. Russian was taught in all middle schools in Northeast China, in 59 schools in Peking, and in other cities.

Soviet-Chinese cultural ties developed successfully. A clear expression of the friendship between the Soviet and Chinese peoples was Chinese-Soviet Friendship Month (November-December 1952), which took the form of a huge political campaign. Chou En-lai, at the opening of the month, said, “The generous and unselfish assistance on the part of the government of the USSR had made it possible for us to strengthen our defense, to cope with the economic blockade established by the imperialist states, and to insure quick successes in the work of restoring the economy.” The Soviet delegation of cultural, scientific, and artistic leaders who visited the PRC for the occasion were warmly received by the Chinese people as they traveled about the country. Soviet artists gave over 80 concerts, attended by 500,000 spectators, during their stay in China. A Red Army ensemble presented the songs and dances of the Soviet Army at 60 concerts viewed by almost one million persons.

Thanks to Soviet assistance, the development of the PRC in 1952 can be characterized by further strengthening of the dictatorship of the people’s democracy, and by significant success in state, economic, and cultural construction. In the field of economics, 1952 was primarily a year of completion of the restoration and further development of the most important branches of the national economy, as well as of preparations for widespread economic construction in accordance with the provisions of the First Five-Year Plan.

The gross output of industry increased 24.7 percent in 1952, as compared with 1951, with production by state industry contributing over 60 percent of the total value of the country’s production. Agriculture, in addition to completion of the agrarian reform program, saw the beginning of the movement to increase production and to set up cooperative types of peasant labor. The result of land reforms was to distribute 44 million hectares of land to the peasants. On these lands the peasants had been paying rent to the landowners of at least 30 million tons of grain annually.

Great social and economic changes took place in the PRC during the restoration period. Relying on comprehensive economic and political support and assistance of the Soviet Union, and on broad military collaboration reliably guaranteeing the country’s national security, the people’s government, having inherited ruin and decay, could develop and implement a broad program of social reforms and restoration of the national economy.

The authority of the people’s revolutionary dictatorship was strengthened. A socialist sector appeared in the economy. The state seized the basic means of production and the principal economic levers (credit, supplies of raw materials, markets), with the help of which it was able to control the private capitalist sector. Agriculture, commerce, and other fields were reorganized. In 1949 the gross output of state industry was 26.7 percent of the country’s industry as a whole. This figure increased to 44.7 percent in 1952. The material well-being of the population improved, and national science and culture developed.

The restoration period proved an important stage in Sino-Soviet relations because the international support and tremendous assistance provided by the Soviet people enabled China to overcome international and domestic difficulties and prepare all conditions needed for successful transition to planned socialist construction.

NOTES

1. Jen Min Jihpao (People’s Daily), October 2, 1949.

2. Jen Min Jihpao, February 14, 1951.

3. Jen Min Jihpao, April 13, 1950.

4. Narodnyi Kitay (People’s China), Vol. Ill, No. 9–10, 1951, p. 20.

5. M. S. Kapitsa, KNR: dva desyatiletiya—dve politiki (The People’s Republic of China: Two Decades—Two Policies, hereinafter referred to as Kapitsa) (Moscow, 1969), p. 36.

6. M. I. Sladkovskiy, Ocherki ekonomicheskikh otnosheniy USSR s Kitayem (Essays on the USSR’s Economic Relations with China, hereinafter referred to as Economic Relations with China) (Moscow, 1957), p. 310.

7. Jen Min Jihpao, February 15, 1953.

8. Narodnyi Kitay, No. 22, 1952, p. 27.

9. Narodnyi Kitay, Vol. IV. No. 7–8, 1951, p. 19.

__________________

* The total credit was not stipulated in rubles in the agreement. Conversion into rubles was made at a later date, after the establishment of the new rate, four rubles to the dollar, on March 1, 1950.

* Even prior to World War II, Soviet geologists, at the request of the Chinese authorities of Sinkiang province, had prospected in this region for deposits of nonferrous metals and oil. These deposits became the bases for the establishment of joint Soviet-Chinese enterprises for the extraction and concentration of a number of nonferrous metals in Burchum, and for the extraction and refining of oil in the Tushantse region. These enterprises operated until 1943. Later on they were laid up by Chiang Kai-shek’s authorities. They became the basis for the establishment of the joint Soviet-Chinese stock companies.

* Here and in what follows the figures are given in new rubles.