Celebrity Entrepreneurship: Li Jiacheng's Most Classic Story Of Entrepreneurial Turmoil

After 5 years of entrepreneurship, " Yangtze River "It has gradually become one of the largest plastic flower factories in the world. Li Jiacheng It is called the "plastic flower king" by the insiders. And the owner of the workshop that Li Jiacheng hired also took the opportunity to raise the rent substantially, which contributed to Li Jiacheng's determination to build his own property.

In 1958, he invested in the site of King's road, North Point, and built a 12 storey Arts crafts emporium, leaving several layers of private use to rent out the remaining units. After the completion of the building, Hongkong property prices rose rapidly. Li Jiacheng found that real estate was promising, so he began to deploy funds to the real estate market. In the middle of 60s, real estate in Hongkong went through a frenzy of speculation. Li Jiacheng had the eye to see that land prices would pick up again one day, and decided to implement the strategy of "people abandon me", buy land and old buildings in large quantities at low prices, and build factory buildings in Kwun Tong, Chai Wan and Wong Chuk Hang, all for rent. In less than three years, the storm subsided, and a large number of businessmen who left Hong Kong returned home. Li Jiacheng took advantage of the opportunity to sell profits from cheap acquisitions, and to turn to buildings and land with potential for development. This time, his strategy is to buy and sell, all of which are used to build buildings. At the beginning of 70s, he had a total area of 6 million 300 thousand square feet, and the rental property was more than 350 thousand square feet. The annual rent collection amounted to HK $4 million.

In June 1971, Li Jiacheng formally set up the "Changjiang" real estate Co., Ltd., which is responsible for the real estate business, "at the founding meeting of" Changzhi ". He set the goal for the future to surpass the" real estate industry "known as" Hongkong ". The land company was founded by the British businessman Paul, J. C., and the Hongkong head of the Jardine company in the time, calling it the largest developer in Asia, and the largest commercial organization in Hong Kong. In July 1972, Li Jiacheng changed the name "Changzhi" to Changjiang Industrial (Group) Co., Ltd., acting as chairman and general manager. In November of this year, "Chang Shi" was listed in Hongkong for sale on the market.

Li Jiacheng encountered quite a lot during the long sale in Hongkong. obstacle 。 At that difficult time, he was encouraged by his wife, Zhuang Yueming. Zhuang Yueming is his cousin. He is 4 years younger than he is. Two people are young men and women. Zhuang Yueming's father, Zhuang Jingan, is a famous clocks and watch dealer in Hongkong, with the old name Zhongnan list. After graduating from University of Hong Kong, Zhuang Yueming went to Japan Meiji University to further his studies. Li Jiacheng married Zhuang Yueming in 1965.

"Chang Shi" has made great efforts in the real estate industry. The first is to spend about 60000000 yuan on property and land, and actively build advanced residential and commercial buildings. In 1967, another 230 million Hong Kong dollars were used to buy US capital group, Hilton Hotel and Hyatt Regency. And Li Jiacheng lasted two and a half years, the whole process of "Yellow River" and "Huang" were like "snake eating elephants", which is actually a classic purchase of British capital since the opening of Hongkong port. Hehuang "is a combination of old records and Whampoa docks. By 1980, Li Jiacheng had become the chairman of the board of directors of "Huang" and "Huang" "more than 40%". At this point, Li Jiacheng sat on the leading position of Hongkong China real estate, "Li Chaoren" nicknamed like wildfire. {page_break}

　 A person in a high position is liable to be attacked

In October 25, 2000, the European Parliament issued a report, naming the Li family business led by Li Jiacheng, which has a high market share in Hongkong, which may have a dominant influence on Hongkong's economy and even monopoly. The report also concerns the preferential treatment of Li Jiacheng's two sons in a number of listed and takeover events, and this unfair privilege will not be conducive to foreign businessmen investing in Hongkong. The report said: "the family business accounts for about 1/4 to 1/3 of the stock market in Hongkong, including telephone, mobile phone, electricity, supermarkets and real estate. "

The report also mentioned that in early 2000, after Li Jiacheng's second son Richard Lee won the control of Hongkong Telecom, the largest telecommunications company in Hongkong, many media in Hongkong were concerned about the growing influence of the Li family. There are also many cases of controversy over the "Cyberport" which has not been publicly invited, as well as many conditions of exemption granted by tom.com when it listed on the gem. The report also believes that there is a need for Hongkong to introduce a fair competition law to prevent monopoly.

Li Jiacheng has never been attacked by such a high profile in the world for many years, so he immediately responded to the report of the European Parliament, and refutes the statement through his long Shi Group, pointing out that the report is not only wrong in calculation, but also refers to the erroneous criticism that the Li family's influence is enormous. "The market value of Li Jiacheng's four companies accounted for only 15% of the value of the Hong Kong stock market," said the spokesman. "Five PCs", together with the second son Richard Lee, accounted for less than 18% of the total market capitalization of the stock market.

Huo Guang Wen, chief executive of the Hongkong stock exchange, also refutes the report, which means that tom.com is exempt from some listing conditions on the gem. It was only a flexible arrangement at that time, and the non Li family enjoyed privileges. He also alleged that individual companies in Finland, Canada and other places accounted for a large proportion of the market value of the overall listed companies, and did not understand why the European Parliament's report only referred to Hongkong without mentioning other places. The Hong Kong government also strongly denied any bias towards Li Jia in the event of "Cyberport" or tom.com listing.

The European Parliament made such a high-profile call to Li Jiacheng, which led to many conjectures. Ceng Yuancang, a famous economist in Hongkong, commented in the Hongkong Economic Daily that the European Parliament suddenly took charge of Hongkong's economy. This is mainly because European businessmen have begun to feel uneasy about Li Jiacheng's commercial empire entering Europe, because many European businessmen have already tasted the taste of Li Jiacheng's failure. He pointed out in his article: "millions of Europeans are already using the telecommunications services provided by Huang and Europe. "Huang Huang" sells Orange, a mobile phone company in the UK, earning HK $110 billion. Later, "Huang Huang" sold some shares of MMN Telecom (Germany's largest mobile phone operator) and Vodafone (one of the world's largest Cell Phone Corps), not only getting nearly 100 billion Hong Kong dollars in cash, but also a sensation throughout Europe. European businessmen really understand that a businessman from Hongkong, Li Jiacheng, is a strong competitor. They began to fear Li Jiacheng because they were not rivals for Li Jiacheng.

"Look at how beautiful Li Jiacheng played from selling Orange. Not only has it continuously increased cash income, it has also won the British 3G licence and the Italy 3G licence. When everyone paid a high price to grab the German 3G licence, he and Huang rushed back. After the sharp drop in global telecom shares, Huang and Huang, who had large amounts of cash, came to buy flat goods and obtained German 3G licenses at a low price. Such excellent business practices should be commended. Why would the European Parliament attack Li Jiacheng in turn? "

Right and wrong, but fair and comfortable. In the days to come, the "Li family business Dynasty" will continue to continue throughout the world. In addition to meeting unlimited business opportunities, it will inevitably face more international challenges.