A century-old wealthy family that rose from Shanghai

From the second half of 1950, freight rates in the Far East rose sharply, marking the beginning of a boom in world shipping.

Initially, Global Shipping took the opportunity to hoard ships and wait for a better price. Starting in September, Global Shipping began to accept business and charter single-trip vessels normally.

At this time, shipping prices in the Far East were already at their highest level since World War II, and were on the verge of continuing to rise.

Chan Kwong-leung and his wife returned to Hong Kong in mid-September, after a vacation in the United States and sending their eldest son to Harvard University.

"Brother, freight rates in the Far East have gone crazy. Japanese factories have too many orders, so they need a lot of raw materials. Recently, Hong Kong is full of Japanese people who come here to rent ships and trade."

Chen Guangcong became excited.

It's truly exciting that the eldest brother has bought up a large number of second-hand ships in the Far East, giving Global Shipping a significant advantage in the market. Japan as a whole only has 140 million tons of merchant ships, while Global Shipping alone has over 20 tons.

Chen Guangliang calmly stated, "Starting in November, we can offer a leasing option to our major Japanese clients: a one-year long-term lease, with all transactions conducted in Japanese yen."

"Long-term rental?"

Chen Guangcong hurriedly said, "Brother, the shipping costs are going to go up again, after all, the other side is going to join the war! Long-term rentals will mean less profit!"

Chen Guangliang laughed and said, "From now on, we will focus on long-term charters as our main contracts. Besides, think about it, freight rates are already at their highest in the last five years. If we charter them for a year, we will make a fortune. If the war continues next year, we can change the contracts to three or four years. With just this one wave, we can quickly expand our fleet. Our ships have been resting all the time. Think about what ships that are, resting in port?"

Chen Guangcong immediately understood and blurted out, "It's a money-losing ship; if it doesn't run, it's a loss."

Then Chen Guangcong added, "We accept Japanese yen? And we can accept all of it?"

Chen Guangliang nodded and said, "After World War II, the United States fixed the exchange rate of the yen at 360 yen to 1 US dollar. This was based on the fact that the Japanese economy was devastated and the yen was worthless. Now that the Korean War has started, the United States will inevitably support Japan and pay more attention to this Far Eastern colony. In addition, the Japanese are clever and cunning. This country may be the first in Asia to have the opportunity to surpass Britain and the United States. Therefore, the yen will inevitably appreciate and will be very stable."

"Wow!" Chen Guangcong exclaimed in realization, then said, "Then the yen we receive will appreciate. And Japan's ship repair facilities must be very advanced now, so we can repair our ships there in the future."

Chen Guangliang nodded and said, "Since the United States is supporting Japan, Japan's shipbuilding industry will rise in the 1950s and 60s, and we will be able to build new ships in Japan in the future. Therefore, if Global Shipping wants to grow bigger, it can only rely on the Japanese market. When you go to Japan to discuss this, take the opportunity to do some research on Japan."

"Okay, I will definitely investigate and learn carefully!"

Since his younger brother was unwilling to separate from the family business, Chen Guangliang trusted him and made him the top assistant of the 'Global Group'. When Chen Guangliang was not in Hong Kong, Chen Guangcong handled the work of Global Shipping and Global Trading.

Chen Guangcong received extensive training from Chen Guangliang starting at the age of 14. Although he was called a younger brother, he was almost like a son.

This wave of global shipping expansion has a total tonnage of 21.5 tons. Chen Guangcong's shareholding is equivalent to approximately 4.5 tons, or about 20% of the shares.

In fact, without the full support of Chen Guangliang, the eldest brother, it would have been difficult for him to hold 20% of the funds. The two brothers never shared any of the profits from Global Shipping; they used them all for this expansion.

Chen Guangcong's living expenses over the years naturally came from Chen Guangliang frequently giving him a sum of money, which not only allowed him to live the life of a tycoon but also enabled him to make some small investments.

In Hong Kong, Zhang Guotao had nothing else to do each day, so he subscribed to several newspapers to study the Korean War. Sometimes he would write some war commentary and send it to tabloids to earn some money.

The newspapers he subscribed to contained numerous advertisements and market information, but Zhang Guotao paid no attention to them.

One day, his son Zhang Haiwei came into his study, casually picked up the newspaper he had placed on the coffee table, and while looking at it, suddenly exclaimed, "Wow! The price of gold is rising so fast!"

Upon hearing this, Zhang Guotao, who was drinking tea, suddenly had a thought: "What?" He casually took the newspaper.

Zhang Haiwei pointed to the market prices at the bottom of the newspaper and said to Zhang Guotao, "Yesterday's gold price was ten dollars different from today's! And yesterday's price was seven dollars higher than the day before! I remember that the price of gold has been rising these past few days!"

Zhang Guotao said, "I understand. The rise in gold prices is directly related to this war. Sigh, how come I only studied the war itself and didn't think about its impact?"

Zhang Haiwei asked, "So, if the war continues, the price of gold will keep rising?"

Zhang Guotao stated definitively, "Judging from the current situation, this war will continue, and the price of gold will definitely surge further!"

Zhang Haiwei quickly said, "Then let's buy some gold first, and then sell it when the price goes up. Wouldn't that make us a lot of money?"

Zhang Guotao's eyes lit up immediately: "That's it! Gold trading!"

Zhang Guotao acted immediately, using all his savings of five thousand US dollars to start "speculating in gold".

As Zhang Guotao had predicted, the price of gold continued to rise.

Zhang Guotao went to the stock exchange every day to inquire about market conditions. He thought to himself, "If prices keep rising like this, I'll soon make a fortune."

On July 20, the U.S. Department of Commerce revoked all approved special export licenses to China. In mid-August, the U.S. issued the "Special Goods Export Prohibition Order of 1950," covering ten categories including metal mother machines, non-ferrous metals, chemicals, marine equipment, and chemical, transportation, and telecommunications equipment. On September 14, the U.S. Senate passed a bill requiring the U.S. to cease providing economic aid to countries that did not impose export controls on the Soviet bloc during the Korean War.

Effective September 21, the U.S. Department of Commerce prohibited the export of strategic materials to Hong Kong and Macau under ordinary licenses; even if the export value did not exceed the prescribed limits, a special license was required. Following September, the U.S. subsequently announced stricter controls on cotton exports and imposed quotas on the export of copper and copper products, zinc products, and lead.

At the same time, Hong Kong businessmen hoarding goods has caused prices in Hong Kong to soar, especially for industrial raw materials.

By the end of September, Chen Guangliang had summoned his subordinates in the financial industry, including Ye Ximing and Guo Deming.

"Next month, we will start to cash out the gold in stages, selling it over two months."

Ye Ximing nodded and said, "No problem. We've made a considerable profit so far, and it should rise further next month."

People have become accustomed to the boss's ability to predict the future and then reap huge profits.

This time, the boss not only made six or seven million from gold speculation, but also acquired a huge reserve of supplies.

Then, Guo Deming took out a plan and said, "Boss, this is the information on all the listed companies in Hong Kong. Can you take a look and see which companies Ping An Bank should hold shares in?"

Chen Guangliang immediately replied, "It'll be ready soon!"

He then started ticking off items on the document.

Hong Kong and China Gas, Dairy Farm, Wharf Holdings, Hong Kong Land, HK Electric, Grand Hotel, Yau Ma Tei Ferry, Hong Kong Ferry, Jun Yik Warehouse, Watsons, Whampoa Ferry Terminal, Lane Crawford
He ticked any companies he was familiar with that weren't at risk of bankruptcy. Of course, this mainly applied to publicly listed public utilities, real estate, docks, and retail companies.

“Ping An Bank has been secretly accumulating shares in these companies. Let’s hold about 5% for now! There’s no rush. This war will last a long time, and the Hong Kong stock market is in a slump.” Guo Deming took the documents without surprise, after all, his boss probably already knew a lot about Hong Kong-listed companies.

"Ok"

Chen Guangliang then said, "I plan to split Ping An Bank into two banking businesses—commercial banking and investment banking. We'll discuss it later. All senior executives will be present for this split."

The two were not surprised and readily agreed.

Ping An Bank is now enormous. In terms of commercial banking business, it has become the largest Chinese-owned bank in terms of deposits. More importantly, it has established a good relationship with Hong Kong's industry and commerce, especially in supporting a group of factory owners.

Investment banking, including real estate investment trusts and financial investments, has already yielded over six million in gold this time alone. Now, Ping An Investment Bank will hold 5% stakes in twenty to thirty Hong Kong-listed companies, which is also a significant investment.

Following the spin-off, Ping An Bank will also establish insurance and securities divisions to further expand its operations.

Chan Kwong Leung's villa on Island Road in Repulse Bay was finally completed and ready for occupancy (the land was purchased in February 1947).

Of course, Chan Kwong-leung has no intention of moving away from Conduit Road in Mid-Levels for the time being, so this newly built villa in Repulse Bay, which covers more than 2 square feet, is just a vacation area for him.

The villa consists of two buildings: one is the living area (a three-story European-style building), and the other is the entertainment area (indoor swimming pool and gym, rooftop tennis court). There is also a swimming pool and lawn in front of the European-style building.

Chen Guangliang took Yan Renmei and Jiang Meiying to a villa in Repulse Bay for a vacation. The brand-new, modern design was refreshing to everyone, and the two women were overjoyed.

Although Chen Guangliang is 40 years old this year, Yan Renmei is 35 and Jiang Meiying is 37, they all look and feel like they are in their twenties or thirties, with enough energy to enjoy life.

Yan Renmei said with great interest, "This place is really nice. Should we move here?"

Given her background, she had naturally seen all kinds of magnificent buildings, but this was Hong Kong after all, and the new building system had been updated.

For example, during the Qing Dynasty and the Republic of China, very few people built swimming pools in their residences; they usually built lotus ponds instead.

Having visited the United States twice, Yan Renmei's mindset has become more modern.

Chen Guangliang glanced at the brand-new building, shook his head, and said, "No, Repulse Bay is just a resort area. We can come here occasionally or with the children for a vacation. For long-term stays, we'll stay in the Mid-Levels for now. Later, I plan to buy two plots of land in Deep Water Bay to build our future permanent residence."

Two-bedroom apartments are available at No. 79 and No. 80 Repulse Bay.

Although Jiang Meiying is an American citizen, she will live in both Hong Kong and the United States for an extended period of time.

"Deep Water Bay? What's the story behind that?"

Yan Renmei and Jiang Meiying both became curious.

"Regarding feng shui, I have already found two auspicious sites. I will discuss the land in a while."

"That's it"

The two women stopped paying attention.

Afterwards, the three went to the pool, changed into their swimsuits, and played in the pool.

Female bodyguards and maids were on the shore serving the three of them, with fine wine and snacks.

The three of them decided not to bring their children today, as they wanted to completely relax.

The three of them lay on deck chairs on the shore, with a parasol blocking the sun. Chen Guangliang was wearing boxer shorts, and Xin Qing was also very relaxed.

Having one wife on each side—that's pretty much what happiness in life is all about.

He wasn't a lecherous man; at least for the sake of family harmony, he only dared to marry two wives. In fact, Jiang Meiying almost couldn't enter the family; it was only with Yan Renmei's permission that Chen Guangliang was able to marry his second wife.

Jiang Meiying, standing to the side, turned her body to the side, her plump and fair figure exuding sensuality; she was a typical beauty reminiscent of Yang Guifei.

"Brother Liang, the Tong Sheng couple wants to immigrate to the United States. Do you think this is a good choice?" Jiang Meiying asked.

She has two younger brothers, Shousheng and Tongsheng, both of whom have long since started their own families and careers.

Today, Jiang Meiying's father, Jiang Zhenhua, runs a textile factory in Hong Kong, which is of a decent size.

Moreover, Jiang Zhenhua has accumulated a lot of wealth over the years. With Chen Guangliang as his son-in-law, he can at least avoid disasters and reduce losses. His net worth is over HK$800 million.

Yan Renmei's family, Yan Zhiduo, has a net worth of at least HK$2000 million, with HK$800 million in deposits alone at Ping An Bank; their properties are worth tens of millions of Hong Kong dollars.

"Vancouver and Toronto in Canada, Los Angeles, San Francisco, and New York in the United States, and Sydney in Australia will be the top three choices for Hong Kong immigrants in the future. However, these are only suitable for retirement and may not be suitable for building a career. Of course, if the couple wants to immigrate to the United States, that is their own choice, and we should not interfere, since Wenjin and Wenhua will be developing their careers in the United States in the future."

Jiang Meiying nodded and said, "Well, anyway, the textile business in Hong Kong is handled by Father and Shousheng. Since Tongsheng doesn't want to stay in Hong Kong, we'll just go along with it. Besides, Father actually wants to immigrate to the United States, but he's worried that the business there won't be good."

Chen Guangliang said, "Let my father-in-law work in Hong Kong until retirement before we consider moving overseas."

"Yes, he listens to you the most!"

How can you say "be obedient" when the other person is an elder?

After arriving in Hong Kong, Jiang Zhenhua, with the help of Chen Guangliang, also set up a medium-sized textile factory and purchased some properties. He planned to develop the business until the 1960s or 1970s before considering emigration. The next step was to see if Jiang Shousheng was willing to stay in Hong Kong.

However, Hong Kong is too small, and now the Chan family is also seeking overseas development.

For example, this full-scale foray into the shipping industry is equivalent to expanding overseas, since these ships are mainly leased to Japanese companies.

night.

Yan Renmei and Jiang Meiying changed into stockings they had brought back from America, paired with cheongsams. Chen Guangliang once again transformed into a fierce tiger, charging into the group of women. (End of Chapter)