On February 1, 1947, the Central Committee of the Communist Party of China declared that it did not recognize all foreign agreements of the regime of Chiang Kai. On February 1, 1947, the Central Committee of the Communist Party of China issued a statement stating that it would never recognize all foreign agreements of the government of Chiang Kai. The Chinese Political Consultative Conference, which was held on January 10, 1946, was the highest political institution of China recognized by the people of the country and by the world¡¯s great powers. The Party does not recognize and will not bear any obligation for all foreign borrowings, clauses and other agreements and agreements signed by the Government of the National Party separately with foreigners, and for all diplomatic negotiations of the same type with other parties without the consent of the Political Consultative Conference.