Telegram to Chen Yun [1] Regarding the True Situation of Difficulties Faced by Shanghai Industrialists and Merchants (December 30, 1949)  Comrade Chen Yun: The Shanghai Municipal Committee, in a telegram sent via the Haijiang channel to the Central Committee, reports that many large and medium-sized factories in Shanghai are heavily indebted and struggling to stay afloat, requesting government loans; otherwise, there is a serious risk of widespread closures, and so on.
Is it indeed the case that Shanghai industrialists and merchants are facing difficulties of such magnitude?
Has the government already approved any loans, and if so, how much has been granted?
Do the capitalists’ loud complaints correspond to the actual situation, or might they be using this as a pretext to resist subscribing to public bonds?
What is your view on these matters?
Please let me know at your earliest convenience.
Mao Zedong  December 30  Printed from the manuscript.
Notes  [1] Chen Yun was at that time Vice Premier of the Government Administration Council and Director of the Financial and Economic Commission.