Bulletin Spring‧Summer 1998

Dr. Li Ka-shing, LLD, DSSc, JP citation A mo ng men un i v e r s a l ly k n o wn who w i e ld power and influence i n Ho ng Kong, Li Ka-shing stands as a legendary figure. The story of his rise from modest origins to the ranks of the wealthiest men in the world is a familiar story to many people, perhaps the dream of even more. However, the principles and convictions behind Mr. Li's success story are more apt to move our hearts and minds than the multi-billion-dollar business empire that he has built up over the years. Mr. Li was born in 1928 in Chaozhou, an ancient city remarkable for its beautiful landscape and the many great men that were born there. The Li family is one of educated scholars. Mr. Li's g r a n d u n c le he ld a q u a l i f i c a t i on awarded by the Imperial Government during the late Qing Dynasty, and his uncle held a Japanese doctorate. His father, Mr. Li Yunjing, was the head of a primary school. The young Li Ka-shing thus grew up in an environment i n f u s ed w i t h l ea r n i ng, and this he l ped tremendously to fashion his character. His diligence, his great desire to learn, his yearning for excellence, and his great munificence in richly endowing the educational institutions of his native place could all be traced back to his early scholarly training. In 1940 the Li family moved to Hong Kong from their war-torn hometown. Hong Kong was experiencing its darkest moments and both business and trade came almost to a standstill. Su c c umb i ng to f i n a n c i al h a r d s h ip and prolonged illness, Mr. Li Yunjing passed away in 1943, leaving Li Ka-shing, then 15 years of age, to provide for his mother and younger siblings. This brought the young Li into the business world, and he has never looked back since. Despite the vicissitudes that h ad converged upon him, such as disorientation from his native place, losing his father, and being deprived of formal education, the young Li remained undaunted and determined to fend for himself. He started his career as an assistant i n a medium-sized f i rm specializing in the manufacture of watchstraps, and became a marketing representative for a metal works and a plastics factory at the age of 17. He was promoted to manager by 18, and then general manager at the early age of 19. He established Cheung Kong Plastics Company when he was 2 2, which marked the first step in his illustrious entrepreneurial career. In 1958 he first became involved in real estate and, as a young man of only 30, he joined the ranks of those whose personal assets were estimated to be in excess of 10 million dollars. He founded Cheung Kong Real Estate Company Limited in June 1971, changing its name to Cheung Kong (Holdings) Limited and listing it on the Hong Kong Stock Exchange the following year. From then on Mr. Li went from strength to strength in the financial world and, at the same time, established Ms firm as the premier Chinese-held real estate company i n H o ng Kong. I n 1979 Mr. Li acquired a significant stake in Hutchison Whampoa, thus becoming the first Chinese businessman to take command in one of the four major British- owned trading houses. In 1985 he took majority interest in Hongkong Electric and, in July 1996, Cheung Kong Infrastructure Holdings Limited became an independently listed entity on the Hong Kong Stock Exchange. Today the major p u b l i c ly quo t ed companies in Ho ng Kong owned by Mr. Li include Cheung Kong (Holdings) Limited, Chinese University Bulletin Spring • Summer 1998 10