A century-old wealthy family that rose from Shanghai

In early November, Oxfam hosted a grand banquet at the Six Nations Hotel, inviting over a thousand celebrities from Hong Kong to gather together. Of course, the majority of attendees were from Shanghai, while there were quite a few Cantonese celebrities, but they were mostly just there for the show.

At the dinner, Chan Kwong-leung first spoke at length about the nature and development plan of Oxfam: "When I established Oxfam, I had already set my development expectations for the future of this charity, which is to benefit the citizens and overseas Chinese in Hong Kong. This charity is not just a charity of my family, but should be jointly operated by all those who are willing to do charity. When the time is right, it should be supervised and operated by the public."

Those present were surprised. Po Leung Kuk and Tung Wah Group of Hospitals have been operating for so long, always run by prominent members of the community. Chan Kwong Leung, however, believed that Oxfam would be operated and supervised by the public once it reached a certain stage of development. Clearly, their philosophies differed.

On the other hand, Po Leung Kuk and Tung Wah Group of Hospitals effectively formed a kind of "wealthy businessmen's organization." Any wealthy businessman who wanted to obtain honors such as "Justice of the Peace" or "British Conferment" had to first serve as the director or chairman of these two charitable organizations. The selection of the director of these two organizations was almost entirely based on who donated the most money each year.

Chen Guangliang then continued, "Oxfam aims to develop into a sustainable charity. Since its inception, it has received over HK$600 million in donations, and currently has HK$400 million in its account. On the occasion of its second anniversary, it received another HK$400 million in donations. Tonight, in addition to celebrating Oxfam's second anniversary, I also hope that more people will join in and work together for this charitable cause."

Everyone was shocked again. Oxfam is currently a charity organization run by the Chan family. The fact that it has received HK$1000 million in charitable funds can only mean one thing – that Chan Kwong-leung donated HK$1000 million.

How much wealth is this?
Unimaginable wealth.

Many wealthy people in Hong Kong have such wealth, but their wealth may consist of fixed properties, gold, US dollars, stocks, etc. More importantly, it is impossible for anyone to donate 1000 million HKD in one go, not even 100 million HKD.

Many people exchanged glances, seemingly saying, "Outsiders say that the Chan Kwong-leung family has replaced the Ho Tung family as the richest family in Hong Kong, but that's probably an understatement. The Chan Kwong-leung family's wealth is probably comparable to the 'Four Great Families' of the past, making them truly wealthy Chinese."

Next came the formal fundraising session. The Shanghai tycoons all gave Chen Guangliang face, including Liu Hongsheng, Chen Guangfu (former Shanghai Commercial Savings Bank), Li Ming (former Zhejiang First Industrial Bank), Wang Kuancheng, Wang Tongyuan, Tang Bingyuan, Zhuang Zhujiu, Yu Shunen, Du Yuesheng, and others, who donated between HK$10 and HK$30. At the same time, some mainland tycoons who were not from Shanghai, such as Lu Yung-hwa, also made donations. Of course, there were also Cantonese tycoons such as Wing On and Sincere who made donations.

The donations totaled over HK$500 million, a staggering sum that has impressed many and raised eyebrows among Chinese entrepreneurs.

After the donations were made, Chen Guangliang began to select 12 directors and 2 vice-chairmen of Oxfam, as well as hundreds of members, based on the amount of the donations.

It was clear to anyone with eyes to see that this dinner was not just a charity event, but also an activity to "band together".

The formalization of Oxfam and the huge amount of funds raised also caught the attention of the Hong Kong government. Chan Kwong-leung was subsequently invited by Grantham Grantham, and the two sides held detailed talks.

The two sides discussed many things. During the discussion, Grantham said, "Mr. Chan, so many refugees have come to Hong Kong. Their stay in Hong Kong is only temporary. They will go back after the war ends."

Chen Guangliang immediately countered: "Your Excellency, firstly, they cannot be called 'refugees.' Although Hong Kong is still under British rule, it is a predominantly Chinese society. Secondly, they are unlikely to return. Hong Kong is like the former Shanghai concessions, an ideal place for Chinese to live, while the economy of the mainland is completely uncertain. Therefore, I suggest that the Hong Kong government have a better solution to help these people overcome their difficulties."

Given his current status, there was no need for him to speak so timidly, and Ge Lianghong couldn't do anything to him.

Upon hearing this, Ge Lianghong asked uncertainly, "They really won't go back?"

Chen Guangliang said, "I think the vast majority will stay."

Grantham frowned, and after a long pause, he said, "How can Hong Kong support so many people?"

Chen Guangliang suggested: "In the past year or two, many textile entrepreneurs from Shanghai have come to Hong Kong for refuge. They have experience in opening factories, as well as textile machinery and personnel. Industry can support more people, especially the textile industry. Therefore, if Hong Kong were to establish a special department to promote Hong Kong's industrial products to Commonwealth countries, such as South Africa, India, Pakistan, and Indonesia, which is a major textile importer, this would undoubtedly help solve Hong Kong's employment problem."

Southeast Asia is currently the top choice, but it alone is not enough to support the rapid development of Hong Kong's textile industry. Therefore, Sun Fung Textile is now attempting to expand into markets in South Africa, Pakistan, India, Indonesia, and other regions.

Ge Lianghong said, "I will let everyone discuss this issue. As a leader in Hong Kong's industry, we also hope that Mr. Chen can participate in this work."

"No problem, I am personally very happy to see the development of Hong Kong's industry."

The formal establishment of Oxfam is a testament to Chen Guangliang's influence.

Businessmen in Shanghai are generally not united, but with Chen Guangliang's presence, they have now come together and formed a tremendous force in Hong Kong.

Industry and shipping will definitely be completely taken over soon.

With the Chen family involved in real estate and finance, the industry is not considered backward, and other Shanghai businessmen have even begun to invest.

Take finance as an example. In its previous life, the "gold war" destroyed Shanghai's financial industry, but in this life, with Chen Guangliang's interference, Shanghai's financial industry has not been completely wiped out. Moreover, veteran Shanghai financiers such as Chen Guangfu and Li Ming had long followed in Chen Guangliang's footsteps and established branches in Hong Kong, and now they even regard Hong Kong as their headquarters.

In short, there were always clashes between the Shanghai and Cantonese factions in the 1950s and 60s, but by the 1970s, everyone was considered a 'Hong Konger'.

Oxfam is steadily improving, and Chen Guangliang no longer needs to put in too much effort, since the vice president and directors are capable people.

That day, Lu the Shipping King came to Chen Guangliang's office, and the two had another long talk, but Lu the Shipping King still seemed very hesitant.

Oriental Daily News continued to operate in Hong Kong, but it was in serious decline. Chen Guangliang couldn't stand it anymore, so he brought in the current heads, Huang Chunsun and Wang Chunhua.

Huang Chunsun was the general manager of the Oriental Daily News back then, and later served as the chairman of the board of directors of the Oriental Daily News; while Wang Chunhua was a famous reporter who gradually became an editor-in-chief.

The Oriental Daily was incorporated into the Nationalist government for a period of time, but the Oriental Daily in Hong Kong operated independently. After several changes, the shareholding of the Oriental Daily in Hong Kong was also very dispersed. The Chen Guangliang family still holds 20% of the shares and can be considered the major shareholder, but he has not interfered with the Oriental Daily for a long time.

"I am heartbroken by the current state of the Oriental Daily News. We were once one of the three major newspapers in China, on par with the Shen Bao and the Xinwen Bao. How come our development has been so poor in recent years?"

As soon as he finished speaking, Huang Chunsun and Wang Chunhua felt ashamed.

The fact that the two were able to come to Hong Kong to develop their careers was also arranged by Chen Guangliang, and they are sincerely grateful to Chen Guangliang as their boss.

Wang Chunhua, a confidant whom Chen Guangliang had personally promoted, said, "Boss, you don't know, the media in Hong Kong are either divided into left and right or in English. Your old style doesn't seem to be popular in Hong Kong anymore."

Chen Guangliang immediately said, "I think what you said is too one-sided. It's like people saying that Hong Kong films are divided into left and right. Aren't the films of different eras also the kings of Hong Kong films? Who can shake them?"

Wang Chunhua stated, "Times Pictures is on the right."

Chen Guangliang was taken aback. It seemed that this statement was correct; it was either left or right!
However, he immediately added, "Neither left nor right matters, but I don't think the Oriental Daily should have fallen to this state."

Huang Chunsun immediately said, “Mr. Chen, as long as you take back control of the Oriental Daily, this newspaper will rise again. Just like the article you instructed us to publish some time ago—that the JF army will not cross the Shenzhen River—our Oriental Daily immediately saw a great improvement.”

Chen Guangliang had this intention. He couldn't bear to see the Oriental Daily News decline, and he even intended to build the Oriental Daily News into a century-old media outlet. Now was the perfect time to realize this goal.

"Yes, that's exactly what I wanted to do by calling you two here. I'll be acquiring shares in the Oriental Daily News soon, and I'll be reorganizing it and proposing new reforms, so you need to be prepared." The two were delighted and said, "Okay, we'll cooperate with your actions at any time."

At this time, the Oriental Daily was not only in poor management, but also lacked a clear publishing philosophy, which was very dangerous.

The Ho Tung family in Hong Kong runs a newspaper called "Kung Shui Yip".

It is only natural that the Chen Guangliang family would take back the Oriental Daily News. Of course, the Oriental Daily News will continue to adhere to the principle of not getting too involved in politics, but will instead focus on 'current affairs news (not acting as a referee)' and 'business news'.

This naturally meant they would have to compete with the Sing Tao Daily. But how could a dying Hu Wenhu and a greenhorn like Hu Xian be a match for the 'old fox' Chen Guangliang?
However, Chen Guangliang is unlikely to directly run the Oriental Daily News. At most, he will serve as the newspaper's chairman and general manager. He prefers Wang Chunhua, who is obedient and capable, but lacks leadership qualities.

On this day, Chen Guangliang's mother-in-law, Xu Qingwan, was celebrating her birthday and invited her children home for dinner. Chen Guangliang also took Yan Renmei back to her parents' home.

Xu Qingwan was actually Yan Renmei's stepmother, but she did a very good job as a stepmother. When Yan Renmei was six years old, her mother died in childbirth while giving birth to her younger brother. Soon after, Xu Qingwan married Yan Zhiduo and took good care of Yan Renmei, her sister, and her brother.

Yan Zhiduo's family also lives in a villa in the Mid-Levels. Today, they are just inviting their children home because it is Xu Qingwan's birthday.

Yan Zhiduo and Liu Chengyi had two daughters and one son, and Yan Zhiduo and Xu Qingwan had one son and one daughter.

Father-in-law, Mother-in-law

"Michael Wong and Jen-mei are here!"

Yan Renmei smiled and took Xu Qingwan's arm, then presented her with her gift. She didn't actually have a deep affection for her stepmother, but her stepmother had helped to bring her and Chen Guangliang together, so their relationship gradually improved.

"You've come all this way, why bring anything, especially something so valuable!" Xu Qingwan said with a smile.

The gift Yan Renmei gave was a jade bracelet, which must have some value.

"It's not given out every year, so please keep it!"

"Okay, okay"

Yan Renyun then said, "Mom, I'm not as rich as my sister, but I still carefully selected the gift."

Xu Qingwan said with a smile, "It's good that you're here. Anything you bring is fine."

Yan Zhiduo was talking to Chen Guangliang, while his other son-in-law Du Weifan, son Yan Zuhe, and others could only stay by his side.

Du Weifan now works for Chen Guangliang, after all, he is Chen Guangliang's and Yan Renmei's brother-in-law, and Chen Guangliang and Du Yuesheng had a close relationship. It is unknown whether the Du family will go to Taiwan or overseas after Du Yuesheng's death (two sons have been left in China), but Du Weifan will probably stay in Hong Kong, since he is doing quite well at Ping An Bank.

Yan Renmei's younger brother, Yan Zuhe, is also 28 years old this year and works in Yan Zhiduo's company.

As for Yan Zhiduo, after arriving in Hong Kong, he invested in Hong Kong real estate on the advice of Yan Renmei, and even owns a property in Central. As long as his descendants do not squander the family fortune, Yan Zhiduo's family will also be Hong Kong's hidden tycoons in the future.

Yan Zhiduo sighed and said, "This gold speculation has ruined many Shanghai gold speculators. The worst off are the two young Hartungs. It is said that they lost every last penny. They can't even sell their properties and land in the mainland. It's really unpredictable. How powerful Hartungs were back then, but look what happened to his descendants."

Chen Guangliang asked, "Did your father-in-law also quit?"

Otherwise, how could I know so clearly?

Yan Zhiduo chuckled and said, "I did speculate, but following Ping An Bank's lead, I cashed out some gold, and then shorted some more in October, making some money."

After arriving in Hong Kong, he considered starting a business, but his daughter persuaded him otherwise, so he began investing in real estate. He understood that his daughter, being with Chen Guangliang, must know a lot about business, and investing in real estate was a good idea.

Chen Guangliang simply nodded and said, "Ping An Bank never got involved in gold speculation from the beginning. They just set their sights on HK$600 per tael from the start and then cashed out my gold reserves accumulated over the years. In this wave of gold speculation, Cantonese gold speculators took advantage of Shanghai gold speculators' lack of market knowledge and unfamiliarity with the area, deliberately driving up the price of gold to lure Shanghai gold speculators into following suit. Meanwhile, they smuggled cheap gold from Macau and overseas, making a fortune from it. Once the war ended, the gold speculation also stopped."

Although it was hindsight, everyone present understood that Chen Guangliang must have known about it beforehand, otherwise he couldn't have been so capable.

That evening, after everyone left, Yan Zhiduo called his eldest son, Yan Zuhe, to his study.

"See? You have to see what your brother-in-law does before you can do anything. Tonight, your brother-in-law's message is that investing in property is the safest option for us. If you don't understand anything, go ask your older sister for information; she'll help you too."

Yan Zuhe originally wanted to invest in other industries, but his brother-in-law rejected the idea. He was not in the mood for it and said, "Oh, but buying this property is just about collecting rent."

Yan Zhiduo said seriously, "What do you know? Often, the simplest things are the most profitable. Do you know what your brother-in-law's main wealth came from?"

"Isn't this speculation?"

Yan Zhiduo said with exasperation, "That's not the same thing. Your brother-in-law wasn't speculating; he was prescient. How many of the super-rich people in Shanghai are still around today? Your brother-in-law has done a lot of real business, but none of it has made as much money as he has from investing in real estate and gold. Of course, now our family just needs to invest in property and collect rent steadily. If you want to be independent, I'll give you a maximum of HK$20."

Yan Zuhe naturally wouldn't agree to that; once he left, his younger brother would take over the family business.

I'll listen to my older sister.

“It’s good to know”

Yan Zhiduo had two sons, so it was normal for him to favor his eldest son, not to mention that his eldest son's older sister had married well.

His eldest daughter once told him, "Father, the future of Hong Kong is the next concession."

The implication is crystal clear: in the future, Hong Kong properties will be just as valuable as those in Shanghai in the past.

Therefore, starting in 1948, Yan Zhiduo purchased properties worth HK$500 million, with HK$240 million spent on No. 10 Ice House Street, Central alone. (End of Chapter)