A century-old wealthy family that rose from Shanghai

On August 13, the Battle of Shanghai officially began, and Shanghai was immediately engulfed in gunfire. This time, even the foreign concessions were no longer safe, with warplanes frequently flying overhead and bombs being dropped from time to time.

Given the situation, foreigners also began to evacuate their citizens, and many women, children and the elderly left Shanghai, bringing a wave of 'population benefits' to Hong Kong.

Des Voeux Road, Ping An Bank Building.

Chen Guangliang contacted Xia Gaoxiang and other senior executives of Ping An Bank in Shanghai via telephone.

"Yes, prices in Shanghai are bound to rise, and inflation will be severe. I suggest that you work with related companies such as Xinfeng Textile and Vitasoy to discuss using a combination of cash and in-kind subsidies to provide wages and benefits to all employees in a tiered manner. This would not only help us improve the lives of our employees, but also help curb inflation in Shanghai."

In short, Chen Guangliang has nearly 6000 employees in Shanghai, and their wages will be paid in a combination of 'fiat currency' and 'rice, oil, coal'.

Xia Gaoxiang immediately said on the phone, "Okay, I'll organize everyone to discuss it right away. Thank you for your concern, boss."

Chen Guangliang replied, "Yes, I'll only feel at ease if I can ensure everyone's well-being in Shanghai."

After hanging up the phone, Chen Guangliang rubbed his head.

Fortunately, Ping An Bank had stockpiled a large amount of supplies in the concession beforehand, including 100 million yuan worth of rice (in undevalued currency), as well as daily necessities such as coal, salt, sugar, and soap.

In this way, the nearly 6000 employees of "Chen's Enterprise" will receive a good welfare package consisting of salary and in-kind allowances. Behind these 6000 employees are 6000 families, which will greatly benefit the people of Shanghai. After all, these 6000 families will not need to rush out to buy supplies, thus indirectly curbing inflation in Shanghai.

"Boss, it's time for your appointment with the owner of Swire Group!"

An assistant reminded Chen Guangliang.

"Okay, I'll go right away."

By this time, Chen Guangliang had become accustomed to working in Hong Kong, through which he remotely controlled his business across the country.

Of course, it wasn't as convenient as in later times, and it all depended on the loyalty and ability of the 'retainers'.

Shortly after, Chen Guangliang arrived at the headquarters of Swire & Co. and met Schjoker.

The two companies became acquainted through conflict and even collaborated once afterward—Chen Guangliang leased two nearly new ships to Swire Group for a year.

At this moment, Schjok sighed and said, "China has once again suffered from war, and our Taikoo Shipping has also suffered considerable losses. I heard that Mr. Chen sold the shipping company in advance, thus avoiding losses."

This person is so forward-thinking.

Chen Guangliang immediately said, "That was just an accident. Because the Minister of Transport and I don't get along and he's been targeting Global Shipping at every turn, that's why I sold the shipping assets."

Upon hearing this, Schjok did not suspect anything and asked, "Mr. Chen, what is the purpose of your visit this time?"

Chen Guangliang then said, “I have four ships in Hong Kong that I want to use to transport goods in and out of the Shanghai International Settlement. So I want these four ships to fly the British flag and operate under the name of Swire Shipping.”

Actually, it would be best to fly the Italian flag, but he couldn't find a suitable one for the time being.

Schjok said, "Then it has to be a British captain, otherwise the Japanese won't be able to be fooled. Also, Mr. Chen has to agree to one condition!"

Taking advantage of someone's misfortune!
"Speaking"

Schjok's eyes lit up, and he said, "I know that the China Merchants Group has withdrawn a batch of ships to Hong Kong. I think it will be difficult for them to continue operating. I hope to purchase a batch of ships from them. I would appreciate it if Mr. Chen could act as an intermediary."

Chen Guangliang was somewhat surprised; it turned out to be about this.

At that time, the general manager of China Merchants Group was Cai Zengji. When the war broke out, some of the ships of China Merchants Group were in the middle and upper reaches of the Yangtze River, while others went to block narrow sections of the Yangtze River such as Zhenjiang to prevent the Japanese navy from invading. Many of the large ships of China Merchants Group also came to Hong Kong for refuge to avoid being intercepted by the Japanese.

Fortunately, Chen Guangliang had strongly advocated equipping all of China Merchants Group's coastal and ocean-going vessels with radio waves. This time, a large number of high-quality ships received the news and came to Hong Kong for refuge.

"I can only convey this message on your behalf, since I am no longer the general manager of China Merchants Group."

"It's natural"

The topic then returned to the issue of Chen Guangliang's four 5000-ton ships flying the British flag and operating under the name of Swire Shipping.

Schjok was also quite surprised that Chen Guangliang had such shipping capabilities.

Operating under the name of Swire Shipping naturally incurs a fee, but compared to transporting supplies to the anti-Japanese war zone, this protection fee is insignificant.

The next day, Chen Guangliang met with Cai Zengji, the general manager of China Merchants Group, who had come to Hong Kong to seek refuge.

"Mr. Cai, how many ships from China Merchants Group have come to Hong Kong for refuge this time?"

Cai Zengji is an official of the Nanjing government and was formerly the director of the railway bureau, but he naturally did not put on airs when facing a senior figure like Chen Guangliang, who was once the general manager of China Merchants Group.

Moreover, now that Cai Zengji has come to Hong Kong to seek refuge, he seems to have no intention of returning to the mainland.

Cai Zengji truthfully stated: "There are four relatively new ships of over 3000 tons, two relatively new ships of 5000 tons, and four new ships of over 3000 tons. Mr. Chen, the Japanese army has now blockaded the Chinese coast, and the Yangtze River estuary is also blocked by sunken ships. These ships can stay in the port of Hong Kong."

He understood that the current development of China Merchants Group was entirely due to Chen Guangliang's contributions back then.

When he took over China Merchants Group, its debt was already very low, and it had even purchased a large number of relatively new and new ships. Chen Guangliang asked, "What do you plan to do with these ships?"

He had no intention of interfering in the affairs of the China Merchants Group, but it was fine to inquire on behalf of someone else.

Cai Zengji said with difficulty, "I just don't know how the war will develop. If we can defeat the Japanese in Shanghai, we will naturally continue to operate these ships. However, Japan claims that it will destroy China in three months, and I am worried that the situation will develop in a bad direction. In the future, we will have to deal with these ships in Hong Kong."

After thinking for a moment, Chen Guangliang said, "It would be best if China Merchants Group could set up a fleet in Hong Kong and open up shipping routes from Hong Kong to Haiphong, Annam. Of course, it would be best if they flew under foreign flags. Also, could we operate shipping routes from Hong Kong to Europe and North America? On the other hand, the four new ships are indeed very valuable. I suggest that they be sold later to protect state-owned assets to the greatest extent possible."

Ten ships, with a total tonnage of 3.5 tons—these are the core assets of China Merchants Group's ocean shipping business!
Thankfully, it was saved!

Cai Zengji nodded and said, "I will seriously consider Mr. Chen's suggestion. After all, the battle in Shanghai is still ongoing, and it is not advisable to make a decision too early."

Chen Guangliang concluded by saying, "Swire Shipping is very interested in China Merchants Group's ships. If there is any need in the future, Mr. Cai may wish to contact them."

"Okay, thank you Mr. Chen for finding a way out for the China Merchants Group."

“It’s alright. Everyone has a responsibility to fight the war. Even though I’m in Hong Kong, I will definitely do my part.”

Tsai Tseng-chi believed Chen Kuang-liang's words because Chen Kuang-liang was a "hawk" on Japan, whose remarks were always critical of Japan, and who had even defeated Japan several times in business battles.

According to newspaper reports:
At 1 p.m. on August 23, in the Shanghai International Settlement, near Jiangxi Road, "a bomb fell from the sky onto the U.S. Navy warehouse, penetrating three floors to the ground floor." "Another bomb fell on Nanjing Road, landing directly on the third-floor balcony of the Sincere Company, and immediately exploded. The Wing On and Sincere Companies, as well as nearby shops, suffered heavy damage. More than 8 people were killed or injured, including police officers managing traffic lights and directing traffic, customers of the two companies, and Chinese and foreign people coming and going."

At approximately 2 PM on the 28th, at Shanghai South Railway Station, "twelve enemy planes dropped eight bombs near the station, destroying the platform, overpass, water tower, and train depot. Refugees waiting to leave Shanghai on the platform perished, with six to seven hundred dead and wounded. The dead lay scattered on the ground, the wounded cried out in pain, and dismembered limbs and heads were everywhere. Blood flowed in streams, turning the soil red; the scene was utterly horrific." "The massive bombing of South Railway Station on the 28th resulted in the deaths of seven hundred refugees, with countless others injured."

On the 31st, more than two hundred refugees and wounded soldiers waiting to leave Shanghai at Yangxing Bus Station were all killed in the bombing.

On August 24th, the *Salvation Daily* reported that a reporter had a relative who had escaped on August 23rd. He thought this war would be similar to the January 28th Incident, so even after everyone else on the street had moved, he remained with only two bags of rice. However, the gunfire intensified day by day, and he regretted his actions, but it was too late. Around 9 PM on the 22nd, they saw a bright red glow outside their window. Thinking their neighbor was on fire, they rushed out of their house and hid in the alleyway. Trembling, they peered out from the alleyway door and saw the houses in Xiangyu Lane diagonally opposite engulfed in flames. Recounting the terror he had personally experienced, he said: "The bombing raids caused the fleeing masses to fall one after another." A middle-aged man had a hole the size of a teacup blown into his back, from which crimson blood gushed. As he fell, he reached into his pocket with his left hand and pulled a handkerchief to cover his wound, but the action was cut short as he stopped breathing. Just as I was about to call for help on his behalf, an even more horrific scene caught my eye: a woman in a white shirt and black trousers, her right arm blown off, was running westward, crying and screaming. When she heard people on the roadside say that her arm had been blown off, she merely glanced back before collapsing silently. In the street, cars and rickshaws were carrying men and women covered in blood. On one rickshaw, an elderly man in a black silk shirt and trousers clutched his blown-out head, screaming frantically. Between his knees lay a child, not yet ten years old.

After the bombing of Shanghai South Railway Station on August 28, a young child injured by the bomb cried out in pain and horror. Shanghai citizens who were killed by the bombing fled their hometowns in anguish and grief, seeking refuge elsewhere. When the Japanese army invaded Shanghai, a large number of refugees fled from Hongkou and Zhabei districts to the foreign concessions via the Waibaidu Bridge.

Ping An Bank Building, Shanghai.

This building, now a mixed-use commercial and residential building, has seen a steady stream of mid-to-senior level employees from Ping An Bank moving in with their families since August 13th. In Chen Guangliang's words, the goal is to maximize living space in Shanghai while simultaneously enhancing the company's talent pool.

Of course, the first and second floors remain Ping An Bank's office area, while the basement is a vault.

At this moment, a management meeting was being chaired by Xia Gaoxiang in the conference room.

"The boss sent a telegram from Hong Kong, hoping that Ping An Bank could purchase 200 million yuan of national salvation bonds in one go, without holding a shareholders' meeting, and that he would make the decision himself."

One senior executive said, "Isn't 200 million too much? After all, Ping An Bank has a large proportion of investments and loans. Wouldn't 100 million be more reasonable and also show our patriotism?"

This is a factual statement, not an expression of unpatriotism.

At this moment, Ye Ximing said, “As everyone knows, Ping An Bank has stockpiled a large amount of supplies in advance and invested 300 million in properties and machinery. We don’t supply the supplies to our employees and affiliated companies for free; we use the small profits to offset employee salaries or allowances, or sell them to affiliated companies. This part won’t lose money and will even generate a small profit. Now that the concession has become a safe haven for everyone, the rents on our invested properties have soared; our investments in textile and other machinery will also increase next year. These investments are all generating good returns. Therefore, taking out 200 million to purchase national salvation bonds is not a rash decision, but rather a consideration of Ping An Bank’s own asset situation, with the boss providing maximum support for the war effort.”

Everyone immediately applauded, naturally for the boss, even though he wasn't there today.

Xia Gaoxiang said, "That's right. We supported the war of resistance to the greatest extent possible. Even 200 million can get us a plaque, which is a great honor."

To promote the raising of public bonds, the Nationalist government issued the "Regulations for Rewarding the Purchase and Raising of National Salvation Bonds," which stipulated that individuals who purchased bonds worth more than 1 yuan would be awarded a medal, and groups that purchased bonds worth more than 200 million yuan would be commended and awarded a plaque.

Clearly, what Chen Guangliang wanted was a plaque and a formal commendation.

200 million is indeed a huge sum of money. Some provinces only have a share of 5 to 1000 million (total issuance of 500 million).

However, Chen Guangliang's decision to donate a huge sum of money was naturally also based on the consideration that Ping An Bank would make a lot of money in the next few years, so he simply decided to be generous and let the Nationalist government award him a medal.

Next, Ye Ximing added, "The supplies we've stockpiled will be disposed of as 'salaries' and 'allowances.' This will provide employee benefits and also help curb inflation in Shanghai. In addition, the boss has informed me that he has assembled a fleet of ships flying foreign flags in Hong Kong, which can procure supplies for Shanghai in the future."

Everyone smiled happily.

Shanghai is currently surrounded by a state of war, and prices in all aspects are skyrocketing. For example, pork prices have risen from 14 cents per pound to 40 cents per pound due to transportation difficulties.

Ping An Bank and Xinfeng Textile, among other companies, could form a group to centrally procure materials, which would benefit five to six thousand employees and workers.

At this time, the price of rice in Shanghai has risen to more than 14 yuan per shi (a unit of dry measure), with the current increase being around 20% to 30%.

Finally, Xia Gaoxiang added, "There are many disaster victims in Shanghai right now, and the boss has also conveyed his message, hoping that Ping An Bank can fully demonstrate its responsibility as a company and contribute more to disaster relief and donations. Therefore, we will establish a special organization to handle this matter, including allocating supplies and providing assistance."

Zhang Shounian immediately replied, "I am willing to serve as the head of this organization."

Xia Gaoxiang nodded and said, "We have the supplies, so you can go ahead and do it with peace of mind."

"it is good"

The 200 million yuan in government bonds is only for supporting national-level actions; Ping An Bank will also take action for civilian disaster relief.

Although Chen Guangliang is not in Shanghai this time, he will still be remotely directing this operation. (End of Chapter)