A century-old wealthy family that rose from Shanghai

John Keswick listened to his subordinates' work report with a grim face, never expecting losses to be occurring everywhere.

"The shipping business in mainland China has begun to shrink, mainly due to the mainland government reducing trade and closing the coast. In addition, Hong Kong-owned shipping companies have increased significantly, taking over our British shipping routes, especially global shipping, with the most large ships. Now they even have two sailings on European routes."

“Damn it!” John Keswick said angrily. “These Chinese are seizing the interests of our British Empire. Is the London government just going to stand by and watch? Don’t forget that we are the ones paying taxes to support them.”

The subordinate said, "Chen Guangcong of Global Shipping has become a British citizen and is reportedly in London now, continuing to purchase second-hand ships in preparation for further development."

"Hmph, even if they become British citizens, they're still Chinese!"

Anger is useless, after all, the Hong Kong government and the London government cannot openly discriminate, especially the Hong Kong government, which strongly advocates 'equality between Chinese and foreigners' and wants more Chinese to participate in governing Hong Kong in order to maintain London's management of Hong Kong.

Over the years, Global Shipping has created many "miracles": the first Chinese fleet to pass through the Suez Canal, the first Chinese fleet to sail across Europe, North America, and South America, and it has become a voice for the Chinese shipping industry on a global scale.

During this period, despite some difficulties, Global Shipping, with its indomitable spirit, gradually operated on routes from Hong Kong to North America, Hong Kong to Europe, Hong Kong to South America, Hong Kong to Southeast Asia, and Hong Kong to Japan.

After thinking for a moment, John Keswick said, "Since the shipping industry is in a slump, let's have Wharf raise its rents. Effective immediately, all fees for Wharf's docks and warehouses will be increased."

The subordinate said worriedly, "Won't this incite the anger of all the ship owners?"

John Keswick said, "What's the use of anger? They should either not use it at all. Besides, with global prices rising, it's normal business to raise some fees. Go ahead and work on the price increase plan!"

"Ok"

That day, Yang Xiaohu arrived at the Ping An Bank Building and then went into Chen Guangliang's office.

"Big Brother"

Chen Guangliang liked his cousin quite a bit, and stood up, saying, "Come, sit down."

"Yes, thank you, brother!"

Chen Guangliang sat on the sofa, crossed his legs, leaned back, and laughed, "Don't be shy. How's business lately?"

Over the years, he has watched his cousin grow up. Now Chen Guangliang is forty years old, and his cousin is 32. Their elders are getting old.

Chen Guangliang's second uncle and his wife are now in their fifties. The second uncle's health is not very good, after all, he developed some health problems when he was young.

Sometimes when Chen Guangliang sees these 'old people,' he recalls Shanghai in the 1920s and 30s and feels a lot of emotions.

This might also be why he is so nostalgic!
Yang Xiaohu honestly replied, "Back then, with my brother's support, I was able to start my own business. But saying I started my own business was really just a fluke; I had two secondhand ships, each weighing about a thousand tons. Since the second half of last year, business has been much slower, and now I'm just barely making ends meet. The trade is all small-scale—transporting chemical materials and pharmaceuticals to Guangdong Province, and importing local specialties to sell overseas. Everyone does it this way, so the actual profits aren't that high."

Chen Guangliang slapped Yang Xiaohu on the shoulder and lectured him, "Don't always complain that the business is small. You have no advantages or unique features, so why do you complain about not making enough money? Sometimes, if you can get a business going, you should do it well."

Yang Xiaohu lowered his head and said, "Yes, thank you for your guidance, brother. I've been a bit restless lately."

He recalled how he used to earn over 100,000 yuan in one go by running a route between Weihai and Japan, and after several trips, he bought another ship. Therefore, he has been restless and anxious for the past six months.

Chen Guangliang immediately sat up and said seriously, "Are you familiar with Macau?"

Yang Xiaohu immediately replied confidently, "Very familiar."

He spent those four years in Macau, occasionally making trips to Hong Kong.

At that time, he could do many things for the Chen family business, such as taking care of some stranded employees and their families, and secretly purchasing and forcing them to sign Hong Kong dollars.

Chen Guangliang nodded and said, "You should rent some warehouses in Macau recently to store steel coils, iron drums, tires, and gauze. We'll discuss the details later. But remember, this matter must be kept secret, and don't reveal my involvement."

Upon hearing this, Yang Xiaohu immediately asked, "Brother, has something big happened?"

Chen Guangliang said, "I don't know yet, but the Americans will definitely blockade the mainland. In the future, it may be difficult for Hong Kong to transport supplies to the mainland, but Macau is more convenient. So, you rent a warehouse first, and we will discuss the specific supplies and quantities later."

"Okay, I'll get it done as soon as possible."

Yang Xiaohu became excited at the thought of making big money again.

Watching Yang Xiaohu's departing figure, Chen Guangliang fell into thought:

He's profiting from the war!

He stockpiled a large amount of supplies in Hong Kong, much of which he intended to sell to Japan and mainland China. Of course, he wouldn't do business directly with the mainland because he was worried about being sanctioned by the United States and being unable to enter the country, which would be troublesome.

Yang Xiaohu is, after all, an independent individual, and Chen Guangliang directly instructed him to stockpile supplies in Macau, rather than transporting them directly from Hong Kong to the mainland, which would have been less risky.

Wharf Holdings' sudden increase in pier usage fees and warehouse charges has caused a huge stir in Hong Kong's shipping industry.

At this time of shipping downturn, everyone is already making little profit, but Wharf Holdings suddenly raised prices, which has angered many Chinese shipping entrepreneurs.

Jardine Matheson, this long-established British trading company, is too arrogant and never takes Chinese-owned groups seriously. This price increase was also quite sudden, and even the Hong Kong government advised Jardine Matheson to think twice before proceeding.

But Jardine Matheson ignored this and insisted on raising prices.

In Hong Kong's shipping industry, most people don't have land or warehouses, so a large portion of the profits are taken by Wharf Holdings, and there's nothing anyone can do about it.

Even though the Chan Kwong Leung family has some warehouses in Sai Wan, it's not enough; and large ships usually dock at Wharf Holdings and Blue Chimney, with Wharf Holdings having a larger share.

Therefore, Jardine Matheson's sudden price increase at this time also has an impact on global shipping and global trade.

“Boss, I think it’s because Jardine Matheson suffered heavy losses in mainland China, and its own shipping business is in a slump, as well as the challenges from Chinese-owned shipping companies, that Wharf Holdings decided to raise rents to make up for the losses,” Zhao Tieyi said.

Chen Guangliang nodded and said, "Yihe is too arrogant, disregarding everyone's opposition and going its own way."

In its previous life, Jardine Matheson had a poor reputation in Hong Kong. When it controlled Wharf Holdings, it adopted a policy of exorbitant exploitation, which greatly displeased the British Hong Kong authorities. They warned it that if Chinese capital challenged Jardine Matheson for Wharf Holdings, under the same conditions, the Chinese in Hong Kong would not stand idly by and would certainly side with the Chinese capital. As a result, Jardine Matheson lost Wharf Holdings, and even Jardine Matheson nearly fell victim to a Chinese acquisition.

In this life, Chen Guangliang naturally also wants to acquire Wharf Holdings, but now is clearly not the right time. Not to mention the influence of political factors, Jardine Matheson's shareholding in Wharf Holdings is also relatively high.

Jardine Matheson's stake in Wharf Holdings gradually decreased in the 1970s. This was because Jardine Matheson focused on developing overseas markets, and Wharf Holdings issued a large number of convertible bonds during the construction of Harbour City, which significantly diluted its own equity.

Therefore, no matter how much Chen Guangliang disliked Jardine Matheson, he could not acquire Wharf Holdings at this time.

However, there is a way. Chen Guangliang believes that after the Korean War ends, he will become the world's first person in container shipping and strive to enter the container era ahead of schedule. In that case, the role of Wharf Holdings will gradually decrease.

But right now, Chen Guangliang is also very unhappy with Jardine Matheson. He said to Zhao Tieyi, "Since Jardine Matheson cares so much about shipping, then we'll teach him a lesson. For any route that competes with Jardine Matheson, we, Global Shipping, will fight for business, even if it means lowering freight rates."

Zhao Tieyi was taken aback and said, "Then wouldn't we also suffer losses?"

Chen Guangliang waved his hand and said, "Let's put pressure on Jardine Matheson first. Besides, the shipping situation is bad, so we'll make up for it with business. We'll wait until the shipping situation improves before we start looking for ways to make money."

Recalling that his boss had recently sent his younger brother to buy secondhand boats everywhere, Zhao Tieyi suddenly understood what his boss was doing.

This would force Jardine Matheson to continue selling ships, allowing Worldwide Shipping to buy them up. When shipping seasons were busy, Jardine Matheson would be left without any ships. That day, Chen Guangliang, accompanied by his two wives, discreetly arrived in North Point.

North Point, later known as "Little Shanghai," was home to a large number of immigrants from Shanghai who opened restaurants, clothing stores, and barbershops there.

This also allowed Hong Kong people to see some aspects of the Shanghai market.

The three kept a low profile, with their bodyguards hidden in the shadows.

Entering a Shanghai restaurant called "456", Chen Guangliang, Yan Renmei, and Jiang Meiying sat down. Both women were wearing cheongsams today, which attracted a lot of attention as soon as they entered the restaurant, after all, they were too beautiful to be underestimated.

The bodyguards also sat at a table nearby, pretending not to be bodyguards. The male and female bodyguards worked together to keep things relatively discreet.

"Hong Kong is so backward; compared to Shanghai, it's practically a rural fishing port!"

A man's voice came from a nearby table. The table was occupied by one man and two women, presumably two couples. The women were all very well-dressed.

For a moment, the men and women at the table were criticizing Hong Kong.

Chen Guangliang couldn't help but shake his head and said, "Look, these people from Shanghai all have this mentality. Although their lives in Hong Kong are not ideal, they still insist on living a refined life, wearing cheongsams, playing mahjong. Their financial difficulties seem to be non-existent. Perhaps, at least in front of outsiders, they always have to be so refined. This is the general mentality of us Shanghainese. On the other hand, people from Guangdong are down-to-earth, hardworking, and resilient. In the future of Hong Kong, people from Guangdong will have a greater advantage!"

Yan Renmei and Jiang Meiying strongly agreed with Chen Guangliang's views. Although they were also from Shanghai, their "localization" had been deeply influenced by Chen Guangliang, so they did not look down on Hong Kong at all. On the contrary, they were very optimistic about Hong Kong's future.

"Sir, are you trying to lecture us? It sounds like you're making veiled attacks, especially since you're from Shanghai."

The man who had just made his remarks became dissatisfied and was reprimanded in court.

Chen Guangliang laughed and said, "I'm not lecturing you, I'm giving a warning to all Shanghai residents who come to live in Hong Kong—since you've come to Hong Kong and can't go back to the mainland, you should be content to be a Hong Konger."

"who are you?"

Chen Guangliang

"Ah, Mr. Chen, I'm sorry, I had a few drinks just now and was talking nonsense."

The man who had been standing up was so frightened that he quickly bowed his head in greeting.

"Mr. Chen is right. We Shanghainese who come to Hong Kong to develop our careers should also maintain a humble attitude and avoid blaming others or complaining all the time."

"That's right. We don't dare to go back, and we can't focus on our careers in Hong Kong. We Shanghainese will eventually run out of savings. Mr. Chen is really amazing. He has become the most powerful representative of Shanghainese in Hong Kong, and he has even surpassed the Hong Kong people."

Chan Kwong-leung laughed and said, "It's time to change it. From now on, we're all Hong Kongers!"

The storm has passed, but Chen Guangliang's perspective does indeed reflect this sorrow.

In the banking sector, bankers from Shanghai who came to Hong Kong have generally struggled to adapt, with Ping An Bank currently standing out as the only notable success story. In the real estate sector, wealthy individuals from Shanghai who came to Hong Kong seem less interested in investing and more inclined to invest in 'movable assets'.
Chan Kwong-leung doesn't actually want to distinguish between "Cantonese" and "Shanghai" people; what he really wants is for people to acknowledge the concept of "Hong Kong people" sooner rather than later.

Yan Renmei chuckled softly, "You brought us here to experience the atmosphere of Shanghai, but I didn't expect that this atmosphere would ruin our mood!"

Chen Guangliang waved his hand and said, "My mood isn't so easily ruined!"

Then, the three of them began to savor the local Shanghainese cuisine.

"Recently, the Ningbo Association supported a Ningbo restaurant owner. We'll go try some Ningbo cuisine later."

It's quite a coincidence that all three of them are originally from Ningbo, although they all later became Shanghai residents.

"OK"

With his two beautiful wives by his side, Chen Guangliang was in a good mood. After dinner, he took them to a clothing store run by a tailor from Shanghai to have cheongsams made for them. Finally, he asked a hairdresser from Shanghai to style their hair.

John Keswick was struck by Chen Guangliang's unwavering resolve when he heard that despite rising prices at ports and warehouses, Worldwide Shipping was still offering discounts on several routes to attract business.

The two sides had been dealing with each other for more than ten years, and he knew that Chen Guangliang would not give in easily. This price reduction to attract business must be a preparation for a protracted battle.

“They’ll refurbish Jardine Matheson’s vacant ships, especially the older secondhand ones, and then auction them all off in Hong Kong. I don’t believe that shipping in the Far East has any future!”

The subordinate immediately replied, "Okay."

John Keswick holds this view because the main population areas in the Far East are China and Japan, but China is currently blockading its coast, and Japan's economy is developing slowly; therefore, shipping has entered a cold winter since the second half of last year, and he is not optimistic about the future of shipping.

Since Chinese-owned shipping companies prefer second-hand ships, he throws out some bargains for them to compete for.

At the end of April, Chen Guangcong returned from Europe and gave Chen Guangliang a document.

"Brother, there are a total of 12 ships: six 2-ton vessels (including two Liberty ships), four 7000-8000-ton vessels, and two 5000-ton vessels, totaling 10.5 tons and costing 360 million US dollars. The main problem is that three of the ships are already 35 years old."

The expected goals have been largely achieved!
It doesn't matter if the ship is a bit old, since Global Shipping doesn't plan to order new ships yet. They'll wait until the Korean War is over before ordering new ships.

Chen Guangliang carefully examined the information on these ships. During this time, his younger brother also sent a telegram back to Hong Kong to report on the situation, so he was kept informed.

After buying these ships, he now had 17 tons of ships, which was no less than, and even more than, those of Jardine Matheson and Swire.

Japan as a whole currently only has 140 million tons of ships, and that's only after the US has been lifting restrictions on them for the past few years.

“Okay, once we buy them, we’ll start arranging for the seamen and other related matters. Also, Jardine Matheson and Swire are selling some ships recently. Go and buy them all, as long as the price is reasonable and the ships can still operate for a few more years. Do the same for other shipping companies that are selling their ships; I will allocate funds to support them.”

Chen Guangcong hesitated and said, "Brother, are you really sure?"

He has already spent $420 million. Although he knows his older brother is very wealthy, he is still very worried!

Pointing to the Korean Peninsula on the map, Chen Guangliang said, "There's going to be a war here! It might even be a major war between the Soviet Union and the United States!"

Chen Guangcong was shocked and immediately said, "Okay, I'll take care of it right away!"

He understood that this was a war between two camps, which would affect Japan, the Korean Peninsula, China, and the entire Far East. So, having ships was like printing money.

After Chen Guangcong left, Chen Guangliang smiled.

Jardine Matheson and Swire were selling off large quantities of secondhand ships, which surprised him, and he bought them all.

The fewer secondhand ships there are in the Far East, and the more concentrated they are in global shipping, the more money they make.

Of course, if a ship in the fleet exceeds 20 tons of deadweight, it is indeed difficult for a global shipping company to lease it out in a short period of time.

However, Chen Guangliang happened to have a solution, which is why he dared to buy so much. (End of Chapter)