Chapter 624
Who is the Winner?
In 1995, Hong Kong's GDP reached US$1900 billion, with a per capita GDP exceeding US$3. In contrast, the UK's per capita GDP was only US$2.3 (and the pound was depreciating), far behind Hong Kong.
Hong Kong's stock market ranks fourth globally, after New York, Tokyo, and London, with a total market capitalization of US$4860 billion.
In Hong Kong's economic system, the six pillar industries include: real estate, finance, trade, industry, technology, and culture.
The cultural industry accounted for more than 10% for the first time, reaching 10.1%, which has attracted worldwide attention.
The concept of "Hong Kong's Greater Cultural Industry" was proposed by Ms. Chan Meng-yi of a media group. The industry encompasses various aspects, including Hong Kong pop culture, television programs, films, animation, games, and entertainment.
In 1995 alone, the media group exported tens of thousands of episodes of TV series (the copyright of a TV series was sold multiple times, and the total number of exports was calculated based on the price per episode), and the copyright of variety shows was also sold dozens of times (the copyright of a program was sold multiple times).
Even more surprising was the tourism industry. According to official statistics, Hong Kong's tourism revenue reached HK$53 billion in 1995, an increase of 15% over the previous year. Entering the 1990s, this growth rate remained above 12%, which made many people realize the charm of 'Hong Kong culture'.
Central, 70th floor of Ping An Bank Tower.
Chen Guangliang works in the family office, but it's really just a formality.
Today, the Chen family boasts a wealth of talent; even the family office has second- and third-generation members involved in its investment and management. Of course, they participate in the family office's work on a 'part-time' basis.
Chen Guangliang looked at the investment documents in the family office and seemed to be in a very good mood.
It was projected that by early 2000, the family office's total assets would reach HK$4000 billion, and the investment in internet-related stocks alone would generate US$150 billion in cash.
The entire Chen family, including Chen Wenhua and Chen Wenhai from the second branch, Chen Wenxi from the third branch, and Chen Wenying and Chen Wensheng from the fourth branch, have all participated in internet investments. It is estimated that the entire Chen family will be able to cash out more than 40 billion US dollars.
Among them, the Japanese citizens Chen Wenying and Chen Wensheng's 'Ping An Investment' will definitely cash out 150 billion US dollars; in addition, the American citizens Chen Wenhua and Chen Wenhai will also cash out more than 100 billion US dollars.
In addition, Chen Guangliang's lovers, Donatella and Monica, also invested in some projects, which are expected to generate billions of US dollars in cash.
Every time a "major event" occurs, the Chen family can rake in tens of billions of dollars in profits because the Chen family is scattered all over the world and has various channels, nationalities, and identities.
At the same time, family offices have certainly been stockpiling physical gold since 1999.
Chen Guangliang's goal is to leave his family office assets of over HK$2 trillion after his death. In fact, simply accumulating gold reserves would be enough to achieve this goal. Currently, gold is worth less than US$400 per ounce, and it is expected to fall to US$300 per ounce, but it is projected to reach US$1800 per ounce in 2012 and US$4500 per ounce in 2025.
Simply holding physical gold is enough to make the best investment.
Of course, investments should be diversified.
Chen Guangliang was bored, so he picked up a newspaper and started reading.
A news article caught his eye, and he immediately made a few phone calls.
Soon, Chen Wenjie, Chen Wensheng, and Chen Mengyi, who were in Hong Kong, arrived. The three looked at each other, wondering why their father had called them in such a hurry.
"Take a look at this news."
Chen Wenjie took the newspaper, and after reading it, he didn't speak immediately, but waited for his younger siblings to finish reading.
Then, Chen Wenjie said, "The police clashed with the Big Circle Gang, and this guy named Yip Kai-foon was caught red-handed carrying weapons into Hong Kong. Father is worried that their target might be kidnapping members of our Chen family?"
Chen Wensheng and Chen Mengyi were taken aback; no wonder their father had been in such a hurry to summon them.
Chen Guangliang didn't waste any words and said directly, "From now on, every member of the Chen family must strengthen security. Although Ye Jihuan has been captured, he still has a ruthless criminal behind him who will definitely not stop his plans. Therefore, their primary target will definitely be members of our Chen family. In addition, set up sentries around all the villas to closely guard against suspicious persons, especially a man named Zhang Ziqiang. We can use our connections with the Hong Kong police to get him to take the initiative."
"Yes, Father, I'll arrange it right away!"
If Chan Kwong-leung had known that news of Yip Kai-foon's arrest would be reported, he wouldn't have needed to strengthen the family's security more than a year in advance, causing some instability among family members.
Of course, seeing this news at this time is also very helpful.
Chen Guangliang's idea was correct; Zhang Ziqiang's target was indeed Chen Zerui (his grandson) of Villa No. 79, Deep Water Bay.
But they soon discovered that there were guards everywhere around Deep Water Bay, some of whom even had guns. He immediately realized that he seemed to have been discovered.
Later, Hong Kong police summoned Cheung Tze-keung again. Although he was released on bail by his lawyer, it undoubtedly served as a reminder to Cheung Tze-keung that although the Chan family was the richest family in Hong Kong, their security was exceptionally tight. Rather than taking risks and wasting time, it would be better to target other wealthy families.
Three months later.
Hong Kong media broke shocking news – Walter Kwok, chairman of Sun Hung Kai Properties, was kidnapped, and his family eventually paid HK$6.8 million to secure his rescue.
After hearing this news, Chen Guangliang breathed a slight sigh of relief.
After successfully kidnapping Walter Kwok, Cheung Tze-keung had clearly revealed his target, which made it easier to prevent him from being kidnapped.
"Father, Li Junxia has agreed to serve as our family's security general manager!" Chen Wenjie looked at his father with eyes full of admiration.
If it weren't for his father's foresight, his eldest son, Chen Zerui, might have been the first target of that group.
Just like my father said, the money is a small matter; the real problem is the psychological damage it causes.
Chen Guangliang nodded and said, "The Chen family security company has a history of more than 60 years. This is the first time an outsider has been appointed as the general manager (recruited directly from outside). The main purpose of appointing Li Junxia to this position is to strengthen communication with the Hong Kong police and turn the tide."
Li Junxia was Hong Kong's first Chinese Commissioner of Police, serving from 1989 to 1994. His influence within the Hong Kong police force is precisely what the Chan family currently needs. Recently, the Chan family's security personnel acquired a significant number of firearms, all thanks to Li Junxia's assistance in arranging the process. Furthermore, several years ago, the Chan family began employing large numbers of Gurkha soldiers. These individuals, who are not fluent in Cantonese, are hardworking, and possess a high level of secrecy, making them less susceptible to being misled.
“Yes. Li Junxia also said that Zhang Ziqiang’s first target this time was probably our family, but because we had tight security, he decided to kidnap Guo Bingxiang instead.”
"Hmph," Chen Guangliang sneered, "Short-lived wretch."
Chen Wenjie immediately replied, "When 1997 approaches, I will join forces with Hong Kong tycoons to talk to the mainland government and wipe out Cheung Tze-keung's gang in one fell swoop. Otherwise, how can we guard against thieves for a thousand days?"
"That's feasible. Your idea is also very thoughtful. Let's leave it alone this year and take action next year, but we must not reveal ourselves."
"Ok"
Cheung Tze-keung was indeed a formidable outlaw and an object of 'admiration' for some netizens in later generations, but it's not that the wealthy couldn't control him. They could only let him live a carefree life for a while, but eventually, he would be shot. Meanwhile, the truly rich and powerful continued to live a life of luxury and ease.
Cheung Tze-keung would inevitably go to the mainland, because if the Hong Kong police cracked down hard, his gang would hide on the mainland, and even their weapons were purchased from the mainland. It can be said that the security situation on the mainland would be worse at this time, which is the price of development.
Entering 1996, the real estate market was relatively stable. However, starting from the second half of the year, transactions of luxury residences became more active. Some luxury mansions, such as Imperial Garden, View Garden, Jiafuli Garden, Diligende Garden, and Yangming Villa, became sought-after by the market.
Among them, a transaction at Imperial Garden set a record of over HK$25,000 per square foot, while Harbour View Villa, which was arranged by Sun Hung Kai Properties as a show flat, also changed hands for more than HK$20000 per square foot, becoming an indicator of the transaction of luxury homes in the same area.
Amidst a booming property market, some developers seized the opportunity to launch new luxury residential projects at low prices, including The Grand Garden in Fo Tan, the California Garden series in Yuen Long, Metro City in Tseung Kwan O, Harbour City in North Point, Discovery Park in Tsuen Wan, The Imperial Garden in King's Park, Hang Fung Garden in Tuen Mun, Yi Fung Garden, and The Royal Garden in Tai Po. As a result, citizens flocked to subscribe, and developers took advantage of the situation to launch more units and raise prices, but this did not stop the subscription frenzy, and speculation once again became popular.
Among them, the price for a single unit in Kings Park Gardens that was put up in a queue reached over 150 million yuan, which is 20% of the house price.
Driven by luxury homes, prices of all types of buildings have risen. The increase in prices of small and medium-sized residential buildings is slightly lower than that of luxury homes. Grade A office buildings and shops also performed well, while industrial buildings continue to be digested and adjusted.
Central, Cheung Kong Group Centre.
At 63, Chen Wenjie shows signs of aging, and it's clear that even with his father Chen Guangliang's guidance over the years, he still feels immense pressure.
Today, Chan Man-kit's net worth is as high as HK$1180 billion, making him the undisputed 'richest man' in Hong Kong and the richest Chinese person.
Of course, this HK$118 billion in book wealth is only contributed by the 50% equity of Cheung Kong Holdings. Over the years, Cheung Kong Holdings has paid high dividends every year, and with continued investment, the assets of Chen Wenjie and his four children's private trust have reached HK$70-80 billion.
"dad"
The eldest son, Chen Zerui, walked in and greeted him respectfully.
Today, all three of Chan Man-kit's sons work within the Cheung Kong Group. Chan Chak-yui, 38, serves as the Group's Deputy General Manager and Director, becoming the 'successor'; his second son, Chan Chak-lai, 32, has begun serving as a Director of Hutchison Whampoa, learning from his 'mentor', Fok Kin-ning; and his youngest son, Chan Chak-king, has joined 'Cheung Kong Infrastructure' and 'Hong Kong Electric'.
According to future plans, Hong Kong Electric will be merged into CK Infrastructure Holdings, becoming a subsidiary like Hutchison Whampoa. Chan Chak-lai and Chan Chak-king will join another company, while Chan Chak-yui will remain at the helm of CK Asset Holdings, overseeing the overall operations.
As for his daughter, Chan Sze-ki, she joined the "Father and Son Trust Fund" and became the "chief steward" of this branch of the family.
Chen Wenjie asked Chen Zerui, "How's the cash-out situation in Southeast Asia?"
CK Asset Holdings has invested approximately 100 billion in assets in Southeast Asia (excluding Singapore) – including Thailand, the Philippines, Malaysia, and Indonesia, encompassing properties and hotels. These assets have now appreciated to over 300 billion.
At the beginning of the year, they officially began to cash out and leave the market.
Chen Zerui immediately said, "We have cashed out over HK$10 billion in the first half of the year, including the sale of the Hilton Hotel in Manila and the Ching Cheng Building in Bangkok. We expect to complete the cashing out in the second half of this year."
As for the properties in Singapore, they are mostly core assets and won't be liquidated like that. In Japan, there are also a few properties remaining, including the Shangri-La Hotel and two towers in Ginza, which also have no plans to be liquidated.
Chen Wenjie nodded and immediately issued another order: "From now on, in the next year, sell as many residential projects as possible that can be sold. The fewer leftovers, the better. Of course, we must pay attention to the impact on the market."
Chen Zerui was a little surprised. Cashing out in Southeast Asia was perfectly reasonable, after all, the economic prospects of the "Four Asian Tigers" were not as good as those of the "Four Asian Dragons".
As Hong Kong is Chen's stronghold, it's unlikely that any major incidents will occur there, right?
"Father, but Grandpa doesn't think Hong Kong will be successful after 1997?"
Chen Wenjie immediately said seriously, "What nonsense are you talking about! Hong Kong is our family's base, how could we not be optimistic about it? It's just that a huge crisis has emerged in Southeast Asia, which will inevitably affect Hong Kong, so we are making some appropriate adjustments."
"I understand"
Worried that his son wouldn't understand, Chen Wenjie continued, "In terms of commercial real estate, we can also consider cashing out some non-core properties in the future. Maintaining cash flow is the best weapon."
Cheung Kong Holdings has been streamlining its operations, primarily through high dividend payouts, which helps the Chen Wenjie lineage conceal their wealth. Otherwise, if they had simply cashed out tens of billions of Hong Kong dollars from Japan and reinvested them, Cheung Kong Holdings' market capitalization would already be over HK$3500 billion.
Today, CK Asset Holdings' market capitalization is less than 2400 billion, which is still very high, but not as exaggerated as it once was.
Chen Zerui understood and immediately said, "Okay, I'll arrange a detailed list right away and report back to you."
After his eldest son left, Chen Wenjie smiled. Based on his father's guidance, he had foreseen a major downward trend, similar to that of 1982-1984, because he was very familiar with his father's style.
“Having an elder in the family is like having a treasure. No, I look a little older than my father!” Chen Wenjie couldn’t help but shake his head.
Since 1992, his father has stopped participating in media interviews in mainland China and has rarely been involved in official meetings. He, on the other hand, became his father's successor and has a good relationship with the third generation, thus becoming the largest investor in mainland China.
Of course, even if their father didn't remind them of anything, they could still feel his influence on the family. (End of Chapter)