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Mr. C. Z. Waung was born at Ningpo, Chekiang, in 1888. He was educated at St. John's University, Shanghai (1900-1907). He left China for Great Britain in October 1997 and entered the University of London in March 1908. He studied economics at the London School of Economics and Political Science and received the degree of Bachelor of Science (Economics) from the University of London at the end of 1911 with honors. After his graduation, he returned to China in February 1912, and joined the Ministry of Finance of the Provisional government of the Republic of China at Nanking. After the unification of the North and the South, he went to Peking and continued to serve at the Ministry of Finance. When the Bureau of Auditing of Finance was formed in the summer of 1912, he was appointed an assistant auditor. After the abolition of the bureau, he was appointed senior clerk of the Ministry of Finance. In the winter of 1913, he was delegated by the Ministry to be a member of the Financial Com-