A century-old wealthy family that rose from Shanghai

June 1957.

Chan Kwong-leung, accompanied by his eldest son Chan Man-kit, drove to the funeral home in North Point.

Outside the funeral home, a large number of citizens and reporters had gathered to attend the funeral of Liu Hongsheng, a prominent businessman.

Although Liu Hongsheng's funeral was not as grand as Du Yuesheng's, which had 3000 citizens attending, Liu Hongsheng's death was still major news in Hong Kong, and the funeral procession was very large, requiring the police to maintain order in North Point.

By all accounts, Liu Hongsheng was the third generation of the Liu family. During the late Qing Dynasty, the first generation, Liu Weizhong, immigrated to the Shanghai International Settlement and operated an entertainment business, laying the foundation for the family's development. The second generation, Liu Xianxi, served as a comprador for the China Merchants Steam Navigation Company, and the family was relatively well-off. The third generation, represented by Liu Hongsheng and Liu Jisheng, wrote the most glorious chapter in the Liu family's entrepreneurial history. Liu Hongsheng, a "business tycoon" who was also a coal magnate, match magnate, wool textile magnate, and cement magnate, made the Liu family one of the most prominent and wealthy families in Shanghai.

Chen Guangliang and Chen Wenjie entered the funeral home one after the other, causing quite a stir among the crowd.

"Mr. Chen has also arrived."

"Of course. Mr. Chen and Mr. Liu Hongsheng are not only from the same hometown, but also from prominent families in Shanghai. They are also said to be friends. How could they not come to see them off on their final journey?"

"Speaking of the wealthy and powerful families in Shanghai, Hong Kong has now become their domain as well. Cantonese businessmen are no match for them!"

"The main reason is that Mr. Chen Guangliang has raised the banner of Shanghai businessmen, so it is impossible for Cantonese businessmen to surpass him. The Chen family is the leader of Hong Kong Chinese capital in finance, shipping, real estate and industry. Their strength is suffocating and even surpasses that of British capital."

"Yes, I heard that during this shipping boom, the Global Group made $8000 million. Even HSBC had to eagerly seek cooperation with them."

Chen Guangliang entered the room, took one last look at his friend, and then bowed.

He and Liu Hongsheng weren't exactly close friends, but they shared a tacit understanding like that between strong individuals. Because of this, Chen Guangliang even advised Liu Hongsheng to develop his career in Hong Kong.

Today, most of Liu Hongsheng's children are working in Hong Kong, with only one or two remaining on the mainland.

"Condolences"

"Thank you, Mr. Chen, for seeing my brother off on his final journey."

Liu Jisheng stood at the head of the family members and led them in bowing to Chen Guangliang in gratitude.

He said, "At his last moments, my elder brother said that Mr. Chen was a benefactor to our Liu family."

Chen Guangliang exclaimed, "Mr. Liu was my closest friend. He dedicated his life to the country's industry, and history will not forget him."

Without the capitalists of the late Qing and Republican eras, where would the industrial backbone of a nation come from? Every victory in the struggle between national and foreign capital back then was hard-won.

Even though many of these capitalists left their hometowns by the late 1940s, they still left behind technical personnel, skilled workers, and the foundation and resources of industry for the country.

The textile, chemical, shipping, and food industries. Not to mention, "Shipping King" Lu Zuofu returned to China, "Guanshengyuan" owner Xian Guansheng stayed in Shanghai, "Tianchu MSG" owner Wu Yunchu stayed, and "Yongan Group" head Guo Linshuang also stayed.
Subsequently.

Chen Guangliang and Chen Wenjie attended the funeral to bid farewell to their friend.

After attending Liu Hongsheng's funeral, Chen Guangliang, along with Fang Jiaobo, Xie Hengchuang, and other friends from Shanghai, also went to the Shangri-La Hotel for a visit.

In fact, the business development of veteran Shanghai businessmen who came to Hong Kong, including Liu Hongsheng, was not very smooth.

After arriving in Hong Kong, Liu Hongsheng invested in wool textile mills, match factories, and shipping. His wool textile business was only moderately successful and may never surpass the rise of Cao Guangbiao. The match factory was primarily owned by Liu Jisheng; and finally, in shipping, he currently only owns one or two ships. Furthermore, Liu Hongsheng and his family were involved in supporting the North during the Korean War, which led to them being listed as "prohibited persons" by the United States.

In summary, the descendants of Liu Hongsheng's family, like the descendants of Rong Zongjing, are expected to become billionaires, billionaires, or even multi-billionaires in Hong Kong in the future, but they will not achieve great success.

People like Fang Jiaobo and Xie Hengchuang could only invest in small businesses and properties, living a life of leisure in Hong Kong.

As Fang Jiaobo savored the Shangri-La Hotel's pastries, he felt as if he had returned to the Shanghai Bund era, and exclaimed, "The Shangri-La Hotel has changed, yet it hasn't. These preserved Shanghai Bund characteristics are a spiritual anchor for people like us!"

At that time, the Shangri-La Hotel was on par with the Peninsula Hotel across the strait, both enjoying significant international influence. While adopting modern management practices, the Shangri-La Hotel also retained some of Shanghai's unique characteristics, offering dedicated restaurants for both local Shanghainese and Ningbo cuisine, given its large size.

Chen Guangliang laughed and said, “It’s time to let go of that kind of spiritual sustenance. We are Hong Kongers now, and we should have a sense of belonging and responsibility. Hong Kong will surely become the next Shanghai, or even surpass Shanghai, and become a city on par with London and New York. Seeing the workers in those factories, I can’t help but think about the meaning of the words ‘Hong Konger’: hard work, perseverance, pioneering spirit, adaptability, and self-reliance. If you still don’t consider Hong Kong your home, then Hong Kong will leave your descendants with less wealth.”

Upon hearing this, everyone's spirits lifted.

This 'leader' of Ningbo, Shanghai, and Hong Kong businessmen has always been a man of great integrity and has also taken good care of his fellow townsmen.

Fang Jiaobo said, "That makes sense. We haven't changed our mindset yet. It doesn't matter to our generation, but it affects future generations."

Xie Hengchuang and the others nodded in agreement.

Shanghai merchants (including Ningbo merchants) benefited the most from this wave of industrialization.

Hong Kong's industrial output is now about 15-20% higher than the same period in the previous year, which is why the current real estate market is still in a "maintaining" state and is expected to collapse next year.

Subsequently, Fang Jiaobo, as the president of the Ningbo Chamber of Commerce and effectively Chen Guangliang's 'representative,' recounted the events:
"Among this wave of plastic flowers, about 150 of our Ningbo Chamber of Commerce members have entered this industry. Of the 300 factory owners in Hong Kong's 40% wig industry, 35% are also members of our Ningbo Chamber of Commerce. And of course, there are also those in the shipping sector."

Everyone was amazed and admired Chen Guangliang, the leader of the Ningbo Chamber of Commerce, for building the 'Ningbo Consortium' in Hong Kong.

Upon hearing this, Chen Guangliang said, "From now on, I will no longer show such favoritism towards my fellow Ningbo natives. After all, what I need now is the concept of 'Hong Kong people.' Moreover, we must understand the principle that there are no equals among the great."

In industries such as plastic flowers, wigs, and even shipping and textiles, Chen Guangliang did indeed give priority to his fellow Ningbo natives.

Although those Chaoshan merchants are capable, they lacked the initial advantage and experience, so they naturally lagged behind in these industries.

Fang Jiaobo nodded and said, "Mm."

He was essentially Chen Guangliang's 'housekeeper' and naturally benefited greatly, including enabling his family to continue living a wealthy life in Hong Kong, and he also participated in some factory investments, ensuring that they would still have some source of income after coming to Hong Kong, so they wouldn't have to live off their savings.

Chan Kwong-leung visited the Vitasoy factory in North Point to inspect its operations.

Vitasoy started by producing glass-bottled soy milk, and then expanded into soy milk powder, White Rabbit candy, and fruit juice series. Now it has expanded again to Master Kong instant noodles and Red Bull energy drinks.

They have taken one step at a time, making steady progress.

Chen Guangliang arrived at the research and development room, accompanied by Vitasoy General Manager Chen Zhixing. This is where instant noodles are developed.

"Boss, this is a product we've already developed. Would you like to try it?" Ma Jiabo, the person in charge of Master Kong instant noodles, immediately came forward.

The other R&D staff also looked on with hope, after all, they sensed that the boss's grasp and understanding of the product surpassed their own. During the R&D process, the ideas provided by the boss clarified everyone's goals.

Chen Guangliang laughed and said, "We're in for a treat right away, let's eat!"

It wasn't that he cared about the profit from a single instant noodle; rather, he cared about the titles of 'place of origin' and 'inventing company'.

Before long, several bowls of fragrant instant noodles were ready.

Perhaps because he hadn't eaten it for decades, Chen Guangliang actually swallowed hard.

Having grown accustomed to delicacies, I'm now drooling over this kind of 'junk food'.

"Slurp."

It has the flavor of chicken soup, and the taste is rather 'mild', but it is undoubtedly delicious.

"Yes, this is the flavor I want!"

Hearing Chen Guangliang's satisfactory answer, everyone smiled. Seven or eight months of closed-door research and development had finally come to fruition.

Of course, it was actually developed in just three months.

However, some effort was put into further research and development on production processes and flavors.

Margaret immediately said, "Our production line can be set up in a month and we can start selling in Hong Kong."

Chen Guangliang cautioned, "Patent applications in the US and UK should be pursued simultaneously. Don't underestimate this bag of noodles; it will eventually become ubiquitous worldwide. Of course, if a material, like food-grade polyethylene, were used to make a cup or bowl to hold the instant noodles, complete with a plastic fork, imagine firefighters eating it after putting out a fire, or office workers eating it while working overtime at night—then it will become ubiquitous worldwide."

Everyone was completely won over.

Seeing this, General Manager Chen Zhixing quickly said, "We've noted what the boss said. But right now, of course, we're launching packaged versions and registering patents."

"Yes, one step at a time."

As for the other product—Red Bull—it was still in its early stages. Chen Guangliang inspected it briefly and then left.

Chen Guangliang arrived at the 'Wing Cheong Heavy Industrial Base' in Tseung Kwan O, where a large steel plant had been built, supplying steel, aluminum alloys and other materials to Hong Kong.

In particular, the real estate boom in recent years has made Rongchang Steel famous in Hong Kong, further solidifying its absolute dominant position.

Rongchang Heavy Industry Base not only produces steel, aluminum alloys, and copper (raw materials are imported from overseas), but also engages in ship dismantling (secondary steelmaking), machinery research and development and production, as well as ship repair and maintenance (general problems or repair of some small boats).

The person in charge of the work was Sun Dehe, a heavyweight steelmaking expert in China, who had been an engineer in a German steel plant in the 1930s.

"Boss, will the current crisis in Hong Kong's real estate market affect the demand for steel and aluminum alloys?" Sun Dehe asked during the visit.

"In the short term, for the next few decades, Hong Kong's real estate industry will be a long-term, sustainable development. Rongchang Steel does not need to worry about a lack of market; it will only increase production."

After all, he's a technician by training, so it's normal for him to ask such questions. Besides, this is exactly what Chen Guangliang does – setting goals for everyone.

Looking at the massive Rongchang Heavy Industrial Base, which is basically the 'dominant force' of Tseung Kwan O, Chen Guangliang felt a sense of pride.

Although he seized the opportunity from the former Hong Kong "Steel King" Ponzi, he became even more "ambitious".

Rongchang Heavy Industrial Base can produce a lot of aluminum alloys, which can supply not only zipper factories but also aluminum alloy doors and windows; the same goes for copper smelting, where copper ore is purchased from Brazil and other regions, smelted in Hong Kong, and supplied to zipper factories and other industries.

However, Chen Guangliang was not satisfied. He immediately convened a meeting with the management and technical personnel of the Rongchang Heavy Industrial Base to explain his ideas:

"With fewer wars and a growing global economy, a new shipbuilding industry has emerged: the yacht industry. I'd like Rongchang Heavy Industry to enter this sector. Feel free to share your thoughts!"

Hong Kong's shipbuilding industry is actually very developed, capable of building cargo ships of several thousand tons. At its peak, Swire Shipyard had several thousand workers.

Of course, Chen Guangliang wouldn't be interested in building cargo ships, since he couldn't compete with them.

However, when it comes to building yachts, he has considered that while he may not be able to compete with Europe and America in building mid-to-high-end yachts, he certainly has a chance in building mid-to-low-end yachts.

The technical management team present were unfamiliar with this, and one of them questioned, "Yachts? Rich people need large yachts, but ordinary people can't afford them. Is there any future in this?"

Chen Guangliang smiled naturally and said, "I often go to the United States and I have some data to show that yachts have entered the middle class in the United States. On average, this is just the beginning stage. I think this is an emerging industry with unlimited potential."

Some people questioned, "What about technology? Europe and America have the leading technology, so what can Hong Kong use to compete?"

Chen Guangliang nodded and said, "This is indeed a core business for Hong Kong's industry, but I think yachts are divided into high, medium, and low grades. We can start by entering the low-end yacht market, and then gradually accumulate technology to move into the mid-range market. On the other hand, with the Hong Kong Polytechnic Institute about to be established, I will promote the cultivation of talent in this field in Hong Kong."

He has the ability; he is a 'Jazz' and a leader of Hong Kong's Chinese business community. The Polytechnic Institute, which was established in 1972 in his previous life, is about to be established ten years ahead of schedule.

At this moment, General Manager Sun Dehe said, "The prospects are very good, so we should work hard to do it. If foreigners can do it, so can we Chinese."

At this point, no one had any further questions, and Chen Guangliang immediately began to organize things.

Recruit talent, import technology from the West, and then develop step by step.

Taiwan was able to develop a good yacht industry in its previous life, so Hong Kong is unlikely to fare any worse.

Moreover, Chen Guangliang has inspected so many shipyards that he is very knowledgeable about the shipbuilding industry and has a thorough understanding of all kinds of technologies.

To put it bluntly, if the mainland had properly courted him by 1978, the shipbuilding industry could have developed much faster. For example, if Chen Guangliang were building a cargo ship on the mainland, he could use the client's technology to guide the contractor, which would have been a very good learning experience.

In fact, the mainland won't be foolish enough to win over Chen Guangliang. Even disregarding the political implications, just considering the industrial aspect alone, it would be equivalent to observing the effectiveness of Japan's approach.

After all, over the past few decades, Yangtze River Industrial Group has accumulated a wealth of technology and experience, which are invaluable.

(End of this chapter)