Li Ka Shing

Li Ka Shing

Li Jiacheng (July 29, 1928 -), Han nationality, was born in Chaoan County, Chaozhou, Guangdong Province. His ancestral home is Chaoshan area, Guangdong Province. He is a senior consultant of Changjiang Heji Industrial Co., Ltd. and Changjiang Industrial Group Co., Ltd. He has been the richest man in Hong Kong for 21 consecutive years and the richest man in China for 15 consecutive years since 1999. According to Forbes' Hong Kong rich list released in 2020, Li Ka Shing ranked second with a value of $29.4 billion.

In June 1939, Li Jiacheng, a junior high school student, went to Hong Kong with his family. The family lived in his uncle Zhuang Jingan's home. He began to invest in real estate in 1958. In 1979, he bought Hutchison Whampoa, an old British firm, and became the first Chinese to buy a British firm. In 1981, he was elected "Hong Kong man of the moment" and justice of the peace. He was awarded the CBE award by the queen of England in 1989, was employed as a Hong Kong affairs consultant in 1992, was a man of the year in Hong Kong in 1993, and was a member of the Preparatory Committee of the SAR from 1995 to 1997. Since it was named the richest Chinese in the world by Forbes in 1999, it has been ranked as the richest Chinese for 15 consecutive years. In 2011, the legend of Li Ka Shing Kung Fu tea was selected as an article by Chinese foreign teachers at the national Confucius Institute. In March 2014, Li Ka Shing sold nearly 25% of Watson's shares to Singapore sovereign fund Temasek for HK $44 billion. In eight months, he has cashed out more than HK $71 billion. In late March 2015, Hutchison Whampoa, a subsidiary of Li Ka Shing, reached a final agreement with Telefonica, a Spanish telecom company. Hutchison Whampoa will spend about 10.25 billion pounds (about 95.6 billion yuan) to acquire O2, the second largest mobile telecom operator in the UK.

In November 2017, Li Ka Shing Foundation decided to donate another 2 billion yuan in the next eight years to support the construction of Shantou University. It was rumored that it would withdraw from Shantou University, which was confirmed as a rumor. On May 10, 2018, Li Ka Shing officially retired; on June 29, Li Ka Shing resigned as honorary chairman of the board of directors of Shantou University; in September, Li Ka Shing was selected as "the world's top ten most influential Chinese businessmen".

Poor childhood

On July 29, 1928, Li Jiacheng was born into a family in Beimen street, Chaoan County, Chaozhou City, Guangdong Province. He entered Guanhai Temple Primary School at the age of 5. On July 7, 1937, the Japanese War of aggression against China broke out. In 1938, the Japanese bombed Chaozhou. In June 1939, Li Ka Shing, a junior high school student, went to Hong Kong with his family. The family lived in his uncle Zhuang Jing'an's home.

On December 8, 1941, the Pacific War broke out. On Christmas Eve, the British forces in Hong Kong surrendered to the Japanese. As the Hong Kong dollar continued to depreciate and prices soared, the Li family's life became more and more difficult. At this time, Li Yunjing's father contracted lung disease due to overwork.

In the winter of 1943, Li Yunjing was seriously ill. He called Li Jiacheng to his bed and told him in a soft voice: it's better to ask for yourself than for others. Only when you have to eat bitterly can you be a master. Don't lose heart when you are down, and don't forget when you are up. His father Li Yunjing died of illness. In order to support his mother and three younger brothers and sisters, Li Jiacheng was forced to drop out of school and go to the society to make a living. His fellow countrymen who can look at him think that he has "no eyes and a thin skeleton, so he is afraid that he will not be a great weapon in the future.". Li Ka Shing first worked as a tea sweeper in his uncle Zhuang Jing'an's Zhongnan watch company. After Li Jiacheng came here, the first skill he learned was to observe what he said and act according to circumstances.

In August 1945, Japan surrendered. Li Ka Shing was transferred to a watch shop in Gaosheng street as a clerk and learned how to assemble and repair watches.

In 1947, because Li Ka Shing did not want to rely on others for a long time, he worked as a salesman in a hardware factory and began his marketing career known as "xingjiezai" in Hong Kong. In 1948, Li Ka Shing, 20, was promoted to the general manager of the plastic flower factory because of his outstanding sales performance.

carve

In 1950, at the age of 22, Li Ka Shing set up the Yangtze River plastic factory in Shau Kei Wan with $7000 he saved from frugality. "The Yangtze River is vast, so we can't choose it.". At the beginning of the factory, there was a quality accident. Li Jiacheng got through the difficulty with the encouragement of his cousin Zhuang Yueming.

In 1955, the Chang Jiang Plastic Factory finally took a turn, and its production and sales were getting better and better. In 1957, Li Ka Shing read a new issue of plastic magazine in English and came across a piece of news: an Italian company using plastic materials to make plastic flowers is dumping in the European and American markets. The news made Li Ka Shing realize that plastic flowers will also be popular in Hong Kong. As a result, Li Ka Shing went to Italy for an inspection tour. After returning to Hong Kong, he took the lead in introducing plastic flowers, which soon became a hot product.

Li Ka Shing developed plastic flowers in Hong Kong, which filled the gap in the Hong Kong market. Li Ka Shing takes the sales route of high quality and low price, and most dealers sign supply and marketing contracts according to Li Ka Shing's quotation very readily. Some in order to buy out the rights and interests, take the initiative to advance 50% deposit. Li Ka Shing set off a new trend of consumption in Hong Kong, and Changjiang plastics factory became famous in Hong Kong plastics industry from a small and unknown factory.

At the end of 1957, Chang Jiang Plastic Factory was renamed Chang Jiang Industrial Co., Ltd. The headquarters of the company was moved from Xinpugang to Beijiao, and Li Jiacheng served as the chairman and general manager. The factory is divided into two parts, one is still producing plastic toys, the other is producing plastic flowers. Li Ka Shing takes plastic flowers as a key product. Plastic flowers have brought Li Ka Shing tens of millions of Hong Kong dollars in profits, and Changjiang factory has become the world's largest manufacturer of plastic flowers. Soon, he actively explored the world market and became the "king of plastic flowers".

Brilliant career

In 1958, Li Ka Shing built his first industrial building in the north corner of Hong Kong Island, a 12 storey factory building, which was officially involved in the real estate market; in 1960, he built his second industrial building in Chaiwan, which made Li Ka Shing's career rapidly brilliant.

In 1963, she married Zhuang Yueming.

In 1967, the left revolted and the land price plummeted. Li bought a large number of land reserves at a low price.

In 1972, "Changjiang industry" was listed, and its shares were over subscribed 65 times. By the end of the 1970s, he had emerged from the ranks of his peers.

In 1978, he met with Deng Xiaoping, the state leader.

In 1979, Cheung Kong announced an agreement with HSBC to buy 22.4% of Hutchison Whampoa, an old British commercial bank, from HSBC Group at a cost of 620 million yuan. As a result, Li Ka Shing became the first Chinese to buy a British commercial bank.

In 1984, "Cheung Kong Industrial" acquired the controlling stock of "Hong Kong Electric Company".

In 1986, he entered Canada and bought more than half of husky oil. Li Ka Shing's mother died on May 1. On June 20, Premier Zhao Ziyang met with Li Jiacheng.

In 1987, together with two Chinese tycoons, Li Zhaoji and Zheng Yutong, they successfully won the development right of the former site of Vancouver 86 World Expo.

In 1994, the profit after tax of the enterprises under management reached 2.8 billion US dollars.

In December 1995, the market value of the three listed companies of Changjiang industrial group has exceeded 42 billion US dollars.

In 1999, Cheung Kong industrial group made a profit of HK $185 billion after tax.

In 2000, the total market value of Cheung Kong industrial group was about HK $812 billion.

In 2009, the total market value of Cheung Kong industry was about HK $100 billion.

On July 30, 2010, Cheung Kong infrastructure, HEC, Li Ka Shing Foundation Limited and Li Ka Shing (Overseas) foundation of Li Ka Shing, the richest man in Asia, bid for part of the British power grid business of French power group with 5.775 billion pounds. On September 6, Chinese President Hu Jintao met with Li Ka Shing in Shenzhen, Guangdong Province.

In 2011, the legend of Li Ka Shing Kung Fu tea was selected as an article by Chinese foreign teachers at the national Confucius Institute. According to Forbes magazine's ranking of the world's richest people in 2014, Li Ka Shing's total net assets reached US $31 billion, ranking No. 20 in the world and the richest man in Asia.

Li Ka Shing ranked 11th on the 2011 Forbes rich list. In July, Vice Minister of education hao ping went to Shantou University for research and met with Li Jiacheng.

On September 28, 2011, the national Confucius Institute put the legend of Kung Fu tea, which made Li Jiacheng a success, on the international channel and promoted it in both Chinese and English.

In the 2012 Forbes rich list, Li Ka Shing ranked ninth, and won the richest man in Asia.

Li Ka Shing ranked 31st on the Forbes 2012 list of the world's most influential people.

On January 10, 2013, Forbes, an American financial magazine, announced that Li Ka Shing's wealth had increased to US $30 billion, and he continued to be the richest man in Hong Kong.

In 2013, the Chinese rich list was released. On the whole, the scale of Chinese billionaires has achieved double growth in number and wealth. Li Ka Shing continues to be the richest man in China. Since he surpassed Li Zhaoji in 1999, this is his 15th year at the top of the list.

On June 30, 2013, Li Jiacheng attended the graduation ceremony and a series of activities of Shantou University in 2013. He also surveyed the address of New Medical College of Shantou University and participated in the launching ceremony of the construction project.

In December 2013, Li Ka Shing invested in bitpay, a foreign bitcoin payment start-up, through its venture capital company horizons ventures.

In March 2014, Li Ka Shing sold nearly 25% of Watson's shares to Singapore sovereign fund Temasek for HK $44 billion. Li Ka Shing cashed out more than HK $71 billion in eight months.

On June 13, 2014, Li Ka Shing invested HK $180 million in the sale of artificial mayonnaise in Hong Kong.

On July 22, 2014, he was the richest man in China

Chinese PinYin : Li Jia Cheng