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The history of a Hong Kong British-funded consortium is actually a vivid side of Hong Kong's modern political and economic history. It can help us understand the profound changes, development trends, development patterns, and development laws that Hong Kong's economy has experienced over the past 178 years, and can provide us with some historical and practical insights.
- AuthorBangyan Feng
- PublisherJoint Publishing (Hong Kong) Company Limite
- Publication Date2019
The history of Hong Kong's real estate industry can be traced back to the establishment of the land auction and land rights system and the land lease system in the early days. After World War II, emerging real estate developers represented by Wu Duotai and Henry Fok successively proposed the sales method of "layered sales and installment payments", promoting the transformation of real estate management methods and promoting the initial development of modern real estate industry from both supply and demand perspectives. In the early 1970s, with the rise of Hong Kong's stock market, emerging real estate developers represented by Cheung Kong Holdings, Sun Hung Kai Properties, Hopewell Holdings, and Henderson Land Development successively got listed and fully utilized the functions of the stock market to raise funds to expand their businesses, promoting the rapid development of the real estate industry. By the mid-to-late 1990s, the real estate industry had become an important pillar of Hong Kong's economy and was known as the "barometer of Hong Kong's economy". After 2003, driven by various internal and external, subjective and objective factors, Hong Kong's real estate market began a 16-year cyclical bull market. During this period, the "high land prices", "high property prices", and "high rents" caused by serious imbalance between supply and demand of land and housing had a negative impact on Hong Kong's economic performance and social livelihood. It became a deep-seated factor in many problems in Hong Kong's economy and society. Based on the author's "A Century of Hong Kong Real Estate Industry" published in 2001, this book extends the timeline to 2020, attempting to reveal the entire historical trajectory of the real estate industry from its inception, development to maturity against the macro background of Hong Kong's economic development, transformation and population growth. From this, the basic characteristics and development laws of Hong Kong's real estate industry are discovered, as well as its status, role and influence in the overall economy and people's livelihood. At the same time, the successful business investment strategies and setbacks and failures of major real estate groups are also studied in depth for reference.
- AuthorFeng Bangyan
- PublisherJoint Publishing
- Publication Date2021
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The origin of Hong Kong's Chinese-funded financial groups can be traced back to the development of Chinese compradors represented by Nan Bei Hang and Jin Shan Zhuang and those attached to foreign-funded companies. By the end of the 19th century, with Hong Kong established as a transit port for Far East trade, Chinese-funded financial groups began to emerge in real estate, shipping, retail department stores, and even banking sectors. In the 1960s and 1970s, with the rapid pace of Hong Kong's industrialization, emerging Chinese businesses not only gained dominance in the manufacturing industry, but also gradually gained the upper hand in a series of important industries such as shipping, real estate, hotels, and film and television entertainment. Subsequently, emerging Chinese businessmen represented by Li Ka-shing and Pao Yue-kong successively acquired British-funded companies such as Hutchison Whampoa, Kowloon Wharf, Hong Kong Electric, and Wellcome. Chinese-funded real estate companies such as New World Development, Sun Hung Kai Properties, and Henderson Land Development also transformed into large conglomerates, breaking the long-term monopoly of British-funded financial groups and becoming an important economic force in Hong Kong. After 1997, with the integration and development of Hong Kong and the mainland Chinese economy, Chinese businessmen in Hong Kong came across extensive investment opportunities, especially in the mainland market. In this context, Chinese-funded financial groups that are based in Hong Kong, have broken through geographical restrictions and developed into large enterprises with national, diversified, and even international scopes of businesses. During this period, the Hong Kong Chinese capital consortiums not only became the largest capital force in the Hong Kong economy, but also played an important role in sustaining the prosperity and stability of the Hong Kong’s economy, promoting economic cooperation between Hong Kong and the mainland. The history of Hong Kong’s Chinese-funded consortiums is actually a vivid slice of Hong Kong's modern political and economic history. From it, we can understand the profound changes, development trend and changing laws of Hong Kong over the past 170 years, and be inspired in historical and realistic contexts.
- AuthorFeng Bangyan
- PublisherJoint Publishing
- Publication Date2021
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