V. Chefoo-Weïhsien Railway

The Government of Japan will not claim that the option for financing the Chefoo-Weibsien Railway should be made open to the common activity of the International Financial Consortium, provided that the said Railway is to be constructed with Chinese capital.

VI. Opening of the former German Leased Territory of Kiaochow.

The Governmeut of the Chinese Republic déclares that, pending the enactment and gênerai application of laws regulating the System of local self-government in China, the Chinese local authorities will ascertain the views of the foreign résidents in the former German Leased Territory of Kiaochow in such municipal matters as may directly affect their welfare and interests.

T. Kato.

K. Shidehara.

M. Hanihara.

Sao-Ke Alfred Sze.