Chinese Vice Premier Gu Mu is in Japan seeking a five and a half billion dollar loan to help finance eight major industrial projects.
GV: Chinese Vice-Premier GU MU and Chinese delegation enter hall
SV: Mr. Hisao Makita, President of (NKK) Nippon Kokan Company and Japanese party seated at table.
GV: Conference hall
SV: Mr. Makita and translator, Makita makes welcoming speech and Premier GU MU listening. (2 shots)
SV: Member of Chinese delegation replies to opening speech
GV EXTERIOR: NKK factory. (2 shots)
SV: Premier Gu Mu and party along catwalk
SV INTERIOR: Factory showing basic oxygen furnace TILT AND discharges contents. (2 shots)
GV INTERIOR: Control room, Chinese delegation watching.
CU: Premier GU MU and others in control room
CU: Technicians at control panel
GV: Premier Gu Mu and party leave control room.
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Background: Chinese Vice Premier Gu Mu is in Japan seeking a five and a half billion dollar loan to help finance eight major industrial projects. And according to Japanese government sources the Chinese want the status of a developing nation so the loan will be on favourable terms. According to Vice Premier Gu, China is reviewing its industrialization programme with new emphasis on economic growth and promotion of foreign trade.
SYNOPSIS: On the second day of his twelve day visit to Japan, Chinese Vice Premier Gu Mu and members of his delegation, toured the Nippon Kokan Ohgishima Factory in Kawasaki. He was greeted by the company's President Mr. Hisao Makita. The steel company is the second largest in Japan and the fifth largest in the world. A member of the Chinese delegation replied to Mr. Makita's welcoming remarks.
Exports of Japanese steel to China reached more than six million tons last year, making China Japan's biggest steel customer. But reduced steel imports this year reflect a reported shortage in Chinese foreign reserves and an amendment to the modernisation programme.
But despite doing less business with Japan's steel industry the Chinese delegation has been negotiating for a huge loan to help finance eight large projects in China. They include two plans for port construction and expansions, three railway construction, electrification and expansion plans and three power station plans. Vice Premier GU was also expected to suggest a joint Japan-China venture for the production of electronics equipment.
Japanese Prime Minister Masayoshi Ohira will visit Peking later this year when he's expected to reply to China's request for the loan. He has already stated that Japan alone can not finance big Chinese projects although it will do its best. Mr. Ohira stressed the need to discus the matter of aiding China's push for modernisation with other Western industrialised nations.