A century-old wealthy family that rose from Shanghai

"Ah Mei, good news!"

Abao, a low-level manager at Xinfeng Textile, would show the newspaper to his wife, Amei, as soon as he got off work.

"What are you doing, so careless and unconcerned about your image!"

Amei started complaining.

Her husband became a manager several years ago and now earns HK$350 a month; of course, we must also mention her, who has also become a manager and earns HK$220 a month.

During this period, Amei also gave birth to a child. The company not only provided maternity leave but also paid her a basic salary, a benefit usually reserved for company management.

After the baby was born, they hired a nanny for only HK$50 a month, which was quite a bargain.

Ah Bao pointed to the advertisement in the newspaper and said, "It's an advertisement for a property development by Cheung Kong Holdings. The down payment is only 8500 yuan, and the monthly mortgage payment is just over 350 yuan. You can get a 550-square-foot apartment. You know Cheung Kong Holdings, right?"

Amei was also stunned, because it seemed like their family could afford it.

She quickly grabbed the newspaper. Over the years, under her husband's influence, she had learned quite a few characters and could barely understand the news.

"Really? Can we really buy a house?"

Abao nodded and said, "We've saved a little over ten thousand, right? Even if we pay in full, borrowing from around shouldn't be a big problem. But I think this installment plan is a great idea. I can use my monthly salary for the installments, and you can use your salary for expenses. It shouldn't be a problem!"

Ah Mei said, "Yes, I wouldn't dare to buy a house from another property company, but I would definitely dare to buy a house from Cheung Kong Holdings."

The two quickly reached a consensus: to buy a house.

Actually, this is also a company under Chen Guangliang's control. Both he and his wife are only low-level managers, yet they are already thinking about buying a house.

This is unimaginable for outside companies!

During this period, those who could afford a single floor of a Hong Kong residence were either wealthy people who had migrated from the mainland, overseas Chinese returning from abroad, business people, or middle and senior managers of large enterprises.

Abao and Amei, a married couple, are only low-level managers at Xinfeng Textile, but their salaries are much higher than those of similar positions outside; in terms of benefits, the 13th to 14th month salary a year is also a considerable income.

Of course, the couple's courage to buy a house is mainly due to their foresight and boldness; this house will save them from many detours in life.

Chen Guangliang walked around the office building of Ping An Bank Building, which is the headquarters of Ping An Financial Group and Cheung Kong Holdings, while the Global Group Centre on Des Voeux Road is the headquarters of Global Group and Cheung Kong Industrial Group.

Both buildings are also available for rent, but they are mostly rented to high-quality clients; ordinary companies cannot rent them.

"Manager Wang, I heard you're planning to buy a house, is that true?"

"Yes, the houses in Wenhua New Village are already one-third complete, and the mortgage can be paid off in five years, so why wouldn't I buy one!"

Chen Guangliang suddenly stopped and walked over to the two people who were talking.

"Chen Sheng"

The two of them tensed up a bit, after all, their boss was usually stern and strict with everyone.

The company offers excellent benefits to all employees, but that doesn't mean Chen Guangliang is a mild-mannered boss. On the contrary, he is always very strict with his subordinates, and you can often hear him scolding them to their faces without any politeness.

His scolding is always justified. If the subordinate cannot accept it, it means he is beyond redemption and will not make any further progress.

So despite his treatment of his subordinates, his company actually has an extremely low turnover rate, with many of his employees being long-time employees who have been with the company since its inception in Shanghai.

"A lot of people in the company want to buy houses?"

Mr. Wang, a deputy manager of the leasing department at CK Asset Holdings, quickly said, "There are some! People feel that CK Asset Holdings' properties are reliable, and they also feel that the five-year installment payment plan is less of a burden, so there are quite a few people discussing it."

Chen Guangliang nodded and then left.

Manager Wang didn't know why the boss asked that question. Did he think it was a good thing for company employees to buy houses in Wenhua New Village?
Soon, the management and staff of Cheung Kong Holdings, Global Holdings, Cheung Kong Industrial Group, and Ping An Financial Group were notified that employees who purchased properties in Man Wah New Village would receive a 5% discount.

This message is intended for all employees of CK Asset Holdings Limited (excluding construction workers), management of Global Group Limited (excluding junior seamen), management of CK Industries Limited, and all employees of Ping An Financial Group Limited.

Therefore, the news spread very quickly, causing a huge sensation within the organization.

“Amei, I received a notification that our management team can get a 5% discount when buying houses in Wenhua New Village. I calculated that we can save more than 1200 yuan, which is more than two months' salary!”

"Really? That's so wonderful!"

For a time, countless 'internal staff' were overjoyed.

The new year begins (1956).

The first phase of Wenhua New Village, consisting of two buildings with 400 residential units, sold out completely on New Year's Day, creating a huge sensation.

As a result, some citizens who came to buy houses that day complained endlessly because they couldn't buy a house. If security and police hadn't been deployed, the scene would have been chaotic.

This is exactly the effect CK Asset Holdings wanted: to stage a 'triumphant return' news story in Hong Kong.

"Boss, the major large-scale Chinese-owned real estate companies in the market right now include: Lixin Real Estate (Fok Ying-tung), Li Kangjie's Hong Kong and Macau joint venture, Chen Detai's Dachang Real Estate, Guan Qiming, Zhong Minghui, etc., all of whom are real estate people from Hong Kong and Guangdong!"

Upon hearing Yan Kuan's report, Chen Guangliang couldn't help but think.

In the early days of Hong Kong's real estate development, there was a diverse range of people, such as Li Kangjie and Guan Qiming from Shanghai, and Zhong Minghui from Fujian.

However, these people went too far in the real estate business, investing heavily with only 10% of the land price and scrambling for land everywhere, driving up land prices. Ultimately, due to the Hong Kong government's implementation of restrictive measures in 1957 and the fact that Hong Kong's housing supply exceeded demand in 1958, the real estate market crashed.

Based on the current Hong Kong property market—residential land prices are above HK$70, commercial land prices in Central are above HK$500, and commercial land prices in Tsim Sha Tsui, Kowloon are above HK$250—this is the calculation.

It is estimated that it will double this year, but it will stop rising next year (1957).

"We have some funds, so let's go to the auction house and buy three or four plots of land, and try to complete the pre-sale of three or four more plots this year!"

Chen Guangliang decided to give these people a boost and get rid of the 'unqualified real estate companies' as soon as possible.

In the past year (1955), only about 2000 high-rise residential units were sold off-plan, but this year, the number may increase several times, reaching tens of thousands of residential units.

It's very simple. As soon as the building regulations were changed, the real estate market became extremely active.

Yan Kuan said, "The land at the auction is currently being bid up very high!"

Chen Guangliang said, "Never mind him, as long as there is a profit, we will act as soon as possible. At least the first half of this year is a reasonable timeframe."

"Ok"

A moment later, Wu Xinhe also came in. He reported something: "Boss, last year our rental income, plus the profits from our three subsidiaries, Shangri-La Hotel, Lane Crawford Department Store, and Vitasoy, totaled 1010 million yuan."

The profit has actually exceeded ten million Hong Kong dollars, which looks very promising!
"As long as the loan from Ping An Bank doesn't exceed HK$5000 million, there's no need to worry about finances!"

Wu Xinhe nodded and said, "Ping An Bank only gives us 4-5 percent interest, which is almost the same as deposit interest. If we sell Wenhua New Village in the first half of this year, we will have a lot of funds back at once, enough to support the long-term development of the Baide New Street project."

The Baide New Street is a large investment, mainly 'commercial real estate (rental income)', which means that an investment of 10 to 20 million yuan will only earn 2 to 3 million yuan per year after completion, and it will take seven or eight years to break even; including the construction period, it will take more than ten years.

But 'developing real estate' is different; he can recoup his investment and make a huge profit in two or three years by selling pre-sale apartments.

The advantage of commercial real estate is that rents keep rising, its intrinsic value keeps increasing, and the asset will always be yours.

"Yes, we will also purchase land this year to develop several projects."

"Ok"

Regarding financial arrangements, with the boss's backing, Wu Xinhe naturally had no worries. Although he wasn't in Ping An Bank's management, he had guessed one thing: the large amount of loans Ping An Bank provided to Changjiang Real Estate might not even equal the boss's deposits in Ping An Bank, plus the loans from Global Group.

To put it bluntly, it's the difference between the boss's left and right pockets.

Shortly after New Year's Day, Chen Guangliang arrived in West Germany to attend the launching ceremony of the first of four 5.6-ton oil tankers ordered.

It wasn't until this point that the media finally discovered that the Global Group was building four 5.6-ton oil tankers in Germany.

In an instant, a huge public opinion storm erupted in the global shipping industry.

Some oil companies believe that "Chen Guangliang is completely focused on expansion. Although Global Group has always had an advantage in freight rates, it offended European and American oil companies two years ago, so its current business is not very strong."

One shipping company even sarcastically remarked, "These four 5.6-ton supertankers will be stuck in port, marking the Waterloo of this shipping magnate!"

Ignoring public opinion, the Chen brothers, Chen Guangliang and Chen Guangcong, participated in the launching ceremony that day.

Boris Johnson, the German Minister of Economic Affairs and a member of the cabinet, participated in the launching ceremony, while his wife was a guest who participated in the "bottle throwing" and "ribbon cutting".

Boris Johnson's attendance was naturally due to the huge order placed with the German shipbuilding industry by the Global Group, worth more than 40 million US dollars, which greatly boosted the reputation of German heavy industry.

"Mr. Chen, you have been studying the shipbuilding industry in Japan, Britain, Germany and France for many years. I think you must have a deep understanding of this industry. In your opinion, which of these four countries has the most advantages in shipbuilding?" During the meeting, Minister of Economic Affairs Boris asked Chen Guangliang with a glass of champagne.

Chen Guangliang said without hesitation, "Currently, Germany has the best technology, but Japan has the best development momentum. It is expected that this year, Japan's total shipbuilding tonnage will surpass that of Britain. Their advantage is something that Europe cannot achieve!"

Boris nodded heavily and said, "It has to be admitted that Japan has a trend toward cheap labor."

Chen Guangliang added, "There's also the level of government subsidies and support for the shipbuilding industry."

Boris Johnson, a pragmatic economics minister, said, "Mr. Chen, if you were to give advice to the German shipbuilding industry, what would it be?"

"Oil tankers need to grow in size! The world economy is developing rapidly, and the demand for oil is growing much faster than that for cargo ships. Therefore, the proportion of oil tankers in merchant ships will continue to rise over the next twenty years. Larger oil tankers are a better solution for reducing transportation costs. If Germany can build 100,000-ton oil tankers, I won't hesitate!"

Boris exclaimed in surprise, "Isn't this guy afraid of going bankrupt?"
He also knew that Chen Guangliang had offended the American business community.

"Okay, I will seriously consider your suggestion, thank you!"

During the casual conversation, reporters from various media outlets seized the opportunity to take photos of Chen Guangliang.

After leaving Hamburg, Germany, Chen Guangliang and Chen Guangcong boarded the superyacht "British American" and headed to Monaco.

On the yacht, the two brothers sat on the deck, discussing their work.

"Brother, the only way we can get shipping business from Texaco and Esso right now is to lower prices. But this year, we launched four 5.6-ton oil tankers in Germany and four 2.2-ton oil tankers in Japan. How are we going to cope with this huge fleet?"

He knew his older brother was brewing a big plan, but he was always unsure of what it was!

Chen Guangliang said calmly, "Let me ask you, since the Jeddah Agreement at the end of 1953, have we really been affected? Think about it carefully."

Chen Guangcong thought about it carefully and then said, "The bad impact is that we will fall out with oil companies such as Texaco and Esso; the good impact is that our global influence will increase significantly, and we seem to never be short of business. In fact, if we were to lease to them on a long-term basis, Texaco and Esso would agree. Our advantages (cheap and reputable) would make it impossible for them to refuse."

Chen Guangliang said, "Of course it can't be a long-term commitment! Dealing with Europeans and Americans is different from dealing with Japan. Besides, there's no need for the tanker to be in service for the time being. Do your best in business matters, but the price can't be too low, otherwise I'd rather it stay in port. As for what happens next, we'll just wait for the right opportunity."

"Ok"

This October, the Global Group is poised for takeoff!
After arriving in Monaco, Chen Guangliang and Chen Guangcong met with Audrey Hepburn and Brownie, and then everyone prepared to attend the engagement ceremony of Rainier III and Grace.

Chen Guangliang brought Audrey Hepburn to the palace for a banquet.

Rainier III introduced Grace to him, saying, "This is Mr. Chen Guangliang, a major investor in the bathing beach and a world-class shipping magnate. The British American Superyacht is his personal yacht."

By orchestrating the yacht-borrowing incident, Chen Guangliang's relationship with Prince Rainier III was eased.

Grace laughed and said, "I've heard of Mr. Chen. He's the world's shipping magnate who almost brought our American oil and shipping industries to a standstill!"

As an American, this statement clearly reflects some personal sentiment.

Chen Guangliang said with a smile, "I have always abided by the law, and that matter is no exception."

Everyone knows that Chen Guangliang was forced to lose the Jeddah Agreement by the power of the United States.

Of course, these things are no longer important.

Grace immediately replied, "I heard the beach's business has improved. So Mr. Chen has brought an opportunity to Monaco. Although I'm still the Prince's fiancée, I'm very happy!" "Thank you."

Grace then inquired about Chen Guangliang's relationship with Audrey Hepburn, a rather unexpected American-style question.

Even though Prince Rainier III knew about Chen Guangliang's relationship with Audrey Hepburn, he never pursued the matter.

"A very good friendship"

"Oh?" Grace was skeptical, but didn't press the matter further.

This woman lacks emotional intelligence and is arrogant; she may be detrimental to the beach in the future.

Of course, Chen Guangliang still decided to seize the immediate benefits, and then he stated, "Your Highness, Miss Grace, our beach would like to sponsor your wedding. Because Miss Grace is an Oscar-winning actress, I believe this is an opportunity to promote Monaco and also to promote the beach, so we are willing to pay the advertising fee!"

These words immediately delighted Grace. Although she didn't say anything, Prince Rainier III, being a hopeless romantic, agreed without hesitation.

This sponsorship isn't just about the beach providing money; it's about participating in the wedding and attracting wealthy Europeans back to the beaches. (End of Chapter)