A century-old wealthy family that rose from Shanghai

Chapter 338 A new beginning

At the end of September, Chen Guangliang arrived in Hong Kong with his two eldest sons on a ship belonging to Jardine Matheson; while Yan Renmei arrived in Hong Kong first by plane with her two younger sons.

early morning.

Chen Guangliang woke up in the master bedroom of the villa on Gande Road, feeling a sense of 'putting down roots'. In his arms was Yan Renmei, who was still beautiful, dignified, and noble, which made him feel happy.

During the Japanese occupation of Hong Kong, this mansion was occupied by the Japanese soldiers. After Chen Guangliang's men arrived in Hong Kong, they immediately cleaned and replaced the rooms to avoid upsetting their boss. Fortunately, no one had died in the mansion, nor was it a place where people were imprisoned, otherwise it would have had to be rebuilt immediately.

Such assets are easy to return to their rightful owner, since Chen Guangliang still has the relevant house deeds and land deeds, and the procedures are very convenient.

After being woken up by Chen Guangliang's movements, Yan Renmei said lazily, "Waking up so early again, I need to sleep a little longer for my beauty sleep!"

Chen Guangliang laughed and said, "I've always been like this, you know that. But now that things are settled, you can finally get some beauty sleep!"

Some of the words must have come from Chen Guangliang's mouth; they belong to the humorous exchanges between husband and wife.

At this moment, Yan Renmei suddenly opened her eyes wide and said with a relaxed expression, "Brother Liang, are we really settled down?"

Chen Guangliang brushed a strand of hair from her cheek and said gently, "Well, in the future, whether it is the Nationalist government or another regime that rules China, Hong Kong will not be taken over. So, we will settle down here, and the family will regard Hong Kong as a base to develop overseas in the future."

Yan Renmei had no doubt about Chen Guangliang's judgment.

She also knew that Chen Guangliang was very disappointed with the Nationalist government, which was why they only stayed briefly in Shanghai before coming to Hong Kong.

"That's great! You can finally relax a bit!"

Yan Renmei was genuinely happy.

Chen Guangliang asked, "Renmei, we've all gotten used to Shanghai. Don't you miss it?"

Yan Renmei smiled and said, "Wherever you go, I will go. I will only linger where you are."

A French kiss almost ignited the fire of the morning.

In the morning, Chen Guangliang arrived early at the Ping An Bank Building on Des Voeux Road. Since the area had not been affected by the war, the building had not suffered any damage.

As a result, Chen Guangliang's various businesses quickly moved in and resumed operations. At the same time, the building was also rented out, gradually becoming an important gathering place for Chinese businesses in Central.

Chen Guangliang and senior executives of Ping An Bank held a meeting.

In early September, Ye Ximing and Li Hongsheng managed to come to Hong Kong and organize the resumption of business for Ping An Bank.

"Have all of Ping An Bank's property assets been recovered?"

Upon hearing the boss's question, General Manager Ye Ximing immediately replied, "Some of the factory buildings are still going through the process, but our contracts are complete and there are no disputes, so we can get them all back soon."

Chen Guangliang nodded. The current assets of Ping An Bank in Hong Kong are roughly as follows: a ten-story commercial building on Des Voeux Road, and industrial land and factories covering approximately 70 square feet across Hong Kong Island and Kowloon (mainly concentrated in Causeway Bay, North Point, and Kowloon).

"How much are land prices like in North Point?"

Assistant Manager Li Hongsheng immediately said, "At HK$7 per square foot, this is not actually an increase in land value, but rather a price increase caused by inflation. Currently, land prices in Hong Kong have not yet risen."

The property value of Ping An Bank in Hong Kong alone is a staggering seven to eight million Hong Kong dollars (GBP:USD:HKD = 1:4:16), demonstrating its formidable financial strength. Moreover, Ping An Bank also holds US$1020 million in cash and gold in the United States.

Chen Guangliang then said, "Establish a real estate trust department as soon as possible to manage the properties and real estate under Ping An Bank."

"it is good"

Chen Guangliang plans to develop two- or three-story industrial buildings on the industrial land owned by Ping An Bank for rental purposes. Later, he intends to sell them to Yangtze River Real Estate for high-rise residential development.

Next, Chen Guangliang listened to everyone's work reports.

Ping An Bank's main businesses going forward will include: attracting deposits, issuing loans, and foreign exchange transactions.

Ping An Bank's banking network established in mainland China over the years has made it easy for customers to transfer funds from the mainland to Hong Kong; it had already made a fortune by 1937.

Although Ping An Bank is now registered separately in Hong Kong and mainland China, it is still one entity, and the entire banking network remains intact.

After the meeting, everyone got busy, but their faces were full of hope.

"Brother Liang"

Yang Xiaohu, whom I hadn't seen for a long time, walked into Chen Guangliang's office with a joyful smile.

Chen Guangliang stood up happily, then went to Yang Xiaohu's side, patted his rather burly body, and said, "Good lad, long time no see, you've gained some weight!"

Yang Xiaohu chuckled and said, "I've been holed up in Hong Kong and Macau for the past few years, and there hasn't been much to do, so I've gained some weight."

Chen Guangliang invited Yang Xiaohu to sit down on the sofa and then said, "How are your second uncle and aunt doing? I just arrived in Hong Kong and haven't had a chance to invite everyone to get together yet."

Yang Xiaohu replied, "I'm in pretty good health, nothing serious, I just miss going back to Shanghai."

Chen Guangliang naturally wouldn't let them go back, so he said, "They can't go back. They'll develop their careers here from now on."

Yang Xiaohu nodded and said, "I was right to listen to Brother Liang. We've been collecting rent from those residential properties of Cheung Kong Property for the past few years. As you suggested, I bought all those discarded Hong Kong dollar bills, in denominations of 500, 100 and 50 Hong Kong dollars, which is about 600 million Hong Kong dollars."

The so-called "forced signature of Hong Kong dollars" refers to the fact that after the Japanese occupied Hong Kong, they found a batch of "unsigned Hong Kong dollars" in the vault of HSBC. They then forced the HSBC executives to sign their names, and the Japanese used the HK$119 million to purchase supplies everywhere.

Since the banknotes were shipped from London, the Japanese could not have forced the HSBC taipan to issue Hong Kong dollars at will. Furthermore, the Japanese did not need to pay a "deposit" to London like HSBC did, so they could directly use this batch of "unsigned Hong Kong dollars" (small denominations machine-signed, large denominations hand-signed) from HSBC's vault.

The paper and printing were all 'genuine', so a lot of supplies were purchased from Macau and Southeast Asia during the War of Resistance.

"Why so many?"

“I used that $20, plus those Hong Kong dollars that were forcibly signed but later became unusable, and the exchange rate in the market was very low, so I bought a lot.”

Chen Guangliang nodded. When he left Hong Kong, he entrusted Yang Xiaohu and the remaining staff with the task of collecting rent from the hundreds of tenement buildings owned by Cheung Kong Property. Even if the Japanese occupied Hong Kong, they wouldn't plunder such assets.

At the same time, he left Yang Xiaohu with US$20 in the Atlantic Bank of Macau as a precaution. In fact, he was waiting for the 'forced signing of Hong Kong dollars'.

Yang Xiaohu asked, puzzled, "Brother Liang, neither the Hong Kong government nor HSBC recognizes 'forced signing of Hong Kong dollars.' What should we do with the 600 million Hong Kong dollars we have that we've been forced to sign?"

Chen Guangliang picked up the 'forced signature Hong Kong dollar' sample on the table, looked at it, and said, "The paper is from London, the printing technology is from London, and the name is signed by the HSBC taipan. If HSBC doesn't recognize it, its reputation will plummet."

Hong Kong dollars are printed in London and then transported to Hong Kong. In order to issue them, the issuing banks must pay a deposit (gold and foreign exchange) to London.

The reason the Hong Kong government and HSBC currently refuse to recognize these currencies is that they were not subject to margin checks and were issued under duress by Japan. However, if HSBC's reputation begins to decline, it will be unable to withstand the pressure and will eventually recognize denominations of HK$50 and above. As for denominations below HK$50, HSBC will not recognize them, because holders of denominations above HK$50 are wealthy individuals, whom HSBC needs more.

Subsequently.

Chen Guangliang called Ye Ximing to his office and said, "Put the HK$600 million in the safe. In addition, Ping An Bank will continue to purchase HK$50 and above in the market for me, with a temporary limit of US$50. The funds will be my personal expenses."

He has been continuously transferring US$250 million (in gold, silver, and US dollars) from the mainland to Hong Kong recently. Therefore, this money is deposited into Ping An Bank (Hong Kong), which has also caused Ping An Bank's savings to surge.

"Boss, HSBC and the Hong Kong government no longer recognize these forced-signing Hong Kong dollars."

“I know, but I believe HSBC will have to change its mind. Go ahead and acquire it; I can afford to take the gamble.”

"Okay, I'll make arrangements right away!"

这批港币的价格，现在约等于10~15港币兑1美元，相当于实际价值的25~40%。

More than 17 of the 100-yuan notes were issued.

After Ye Ximing left, Chen Guangliang said to Yang Xiaohu, "Next, do you want to do it on your own, or work with me? If you do it on your own, I'll give you $10 in start-up capital."

Although he's his cousin, he grew up with him, so there's still a bond between them. Now that Yang Xiaohu is 27, he's old enough to be independent.

Yang Xiaohu quickly said, "I want to work with Brother Liang, and I most want to work for Global Shipping."

He is an honest person and has received care from his brother-in-law. If Liang asks him to do things independently, he will definitely refuse.

Chen Guangliang then said, "That's fine. I plan to set up a trading company later, and I'll give you shares then. You can work at the trading company."

Global trade has always existed, and Chen Guangliang has many trade talents under his command. He just happened to be planning to set up a trading company in Hong Kong.

"Okay, thank you, Brother Liang."

Chen Guangliang then asked Yang Xiaohu to bring his whole family to the villa for a reunion that evening, including his second uncle and aunt, as well as Yang Xiaohu's wife and two children.

In the afternoon, he convened another meeting with the management team of Cheung Kong Real Estate.

The original management team did leave, for example, Lu Yuantai, who went abroad to study architecture, established an architecture firm in Shanghai after returning and remained in Shanghai for the rest of his life.

Chen Guangliang was quite supportive of this from the beginning, since Lu Yuantai wouldn't be able to fully utilize his talents if he followed him.

Guo Deming, who had studied abroad, continued to serve as the head of his secretariat in Chongqing. At this time, he was still in mainland China, having joined Ping An Bank, where he was mainly responsible for coordinating the factories he invested in.

Many staff members also chose not to come this time, since they would be permanently stationed in Hong Kong, and everyone saw that the domestic war had subsided.

Therefore, the current Yangtze River Real Estate is mainly managed by Yan Kuan, Wu Xinhe, and others.

"Next, Cheung Kong Property has two tasks to do. The first is to repair existing rental properties (some of which have suffered severe damage), and the second is to continue to purchase land. In terms of funding, I will initially inject HK$400 million."

With rising prices, land in North Point is priced at HK$6-7 per square foot, while residential land in Yau Tsim Mong is even higher at HK$8-9 per square foot. However, these prices are still current. It is expected that land and property prices in Hong Kong will skyrocket starting from the second half of next year.

So HK$400 million, which is US$100 million, isn't that much.

Yan Kuan then said, "Of the 305 buildings in Cheung Kong Property, about 80 need to be rebuilt and repaired (due to war bombing), with an estimated funding of around HK$200 million. In reality, we can only afford to spend HK$200 million to purchase new land and properties."

Chen Guangliang was not concerned about the expenditure of these funds, saying, "Produce a detailed plan, and at the same time search for properties and land available for sale on the market, including mid-to-high-end residential properties and land, all of which are under consideration. I will inject more funds if needed later."

"Ok"

The Chan family has approximately US$40 million in wealth in the United States. However, considering that much of their funds are still frozen, their main investment capital in Hong Kong currently comes from wealth brought from mainland China.

Investing in shipping is the most expensive, and global prices have risen sharply in recent years, far exceeding what they were back then.

For example, a ship that sold for $10 back then (5000 tons, built in 1920) would now cost over $15 to buy back.

That afternoon, Chen Guangliang also held a meeting with the management of Global Shipping.

Currently, Huanqiu Shipping has a large number of people, but no ships. This is mainly because Chen Guangliang sold all the ships back then, and two ships were sunk by bombs.

Therefore, the most urgent task is to purchase ships and start business.

Zhao Tieyi reported first: "Boss, we've already negotiated with Jardine Matheson. They have an 'A1 type passenger and cargo ship' that they can sell to us. It was built in Hong Kong in 1923, has a displacement of 3179.21 tons, and originally sailed the Hong Kong-Singapore route. They're asking for £3.2. In addition, Swire Pacific is also willing to sell us a ship, the Golden Peak that we sold to them, for £4."

Good heavens! They sold the ship to Swire for £2.5, or $10 a ship (a 5000-ton Canadian ship built in 1920); those four ships made a lot of money transporting supplies from the colonies to Britain during World War II; now, they've made another fortune.

However, Chen Guangliang also understood that private shipping companies in China were facing a shortage of both ships and money; those shipping assets acquired from Japan had all enriched China Merchants Group and would not be compensated to the private shipping sector.

At the same time, the Nationalist government and the China Merchants Steam Navigation Company were also actively purchasing ships from the United States and Canada, all of which were financed through loans.

Wu Hao then said, "Boss, the Hong Kong military government is currently managing Hong Kong and is facing a food shortage. Therefore, they intend to involve civilian forces in transportation and procurement, and then unify the control over sales. If we have ships, we can immediately buy food in Southeast Asia and use this to curry favor with the Hong Kong government."

They are very familiar with this kind of work, having previously conducted a lot of trade along the Chinese coast and in Southeast Asia. They also have a large pool of shipping and trade professionals coming to Hong Kong now, so they can complete the task quickly.

Upon reflection, Chen Guangliang realized this was indeed the case. He needed to cultivate a good relationship with the Hong Kong government, even if it meant pursuing a political career. Whether it was shipping, real estate, finance, or industry, the Chen family's businesses would only truly take off when the second generation joined.

During this period, Chen Guangliang mainly laid a solid foundation for everyone, so maintaining a good relationship with the government was naturally very necessary.

"Okay, let's buy two ships from Swire and Jardine Matheson, and at the same time take on the task of selling grain with the military government."

Everyone was overjoyed, and the world shipping industry was finally able to develop again.

Next, Chen Guangliang added, "By the way, I plan to operate Global Shipping and Global Trade separately. Global Trade will mainly focus on trade between mainland China, Hong Kong, and Southeast Asia. I plan to encourage everyone to join this company through an IPO. Those who lack funds can borrow from me personally; you know exactly how much."

Wu Hao asked, "How much capital are you planning to raise, boss?"

Chen Guangliang smiled and said, "There are no figures yet. We'll discuss it and figure it out. The point is that everyone should be able to own shares, and the affairs of the trading company will also be their own business. My shareholding will be under the name of Global Shipping, so people in the shipping department can also invest in the trading company."

"Okay, let's discuss this in detail after we finish dealing with the Hong Kong government's food issue, and I'll give you a plan then."

"Row"

Everyone was in a good mood.

Over the years, Chen Guangliang has only provided salaries and dividends to everyone, so many people have some savings and are very interested in investing.

(End of this chapter)