Bulletin Spring‧Summer 1999

ill the United States ， Singapore, and Malaysia. At the same time Nan Fung also purchased land in Quarry Bay, with funds amounting to tens of millions, from the British firm John Swire and Sons. This eventually became Nan Fung Sun Chuen, marking Dr. Chen's first major success in the property development business. I n the doldrums of the 1980s Dr. Chen impressed all in the property market by selling Goodview Garden flats in Tuen Mun at special discounted prices, thus taking the first step in rejuvenating the market and bringing about a new enthusiasm for home purchases among consumers. In 1993, he pioneered the hundred per cent mortgage and achieved excellent results. Nan Fung has since become a force to be reckoned with among Hong Kong developers ， and Dr. Che n has also come to be known as the ‘King of Real Estate’. In 1992 ， Dr. Chen's group issued a total of 15 warrants and, within a few months, the Hong Kong stock market took a nose-dive. Dr. Chen thus created another legend in Hong Kong's business community, which could not help but marvel at his foresight and seeming omniscience. The incident also earned him the accolade of 'King of the Warrant'. Today Dr. Chen is at the head of an immens e fortune comprising interests in cotton spinning , real estate development, shipping, finance, securities investment, and construction. There are some 200 companies in his group and his business interests extend to all comers of th e world. He is certainly a key player in high commerce much respected by his peers. However ， this outstanding billionaire, known for being the K i ng in three industries, prefers a low profile and a simple life. He is a devout Buddhist of the Pure Land Sect and puts the charitable precepts of his religion into practice to the benefit of the community. He has a broad and generous mind and, much as he puts his heart and energy into his enterprises, he cares very little for honours and reputation which he dismisses as temporal. As a result of his benevolent disposition, he established the D.H. Chen Foundation as early as the 1970s. Over the years, Dr. Chen has given substantial funds to various charitable and relief causes in Hong Kong and elsewhere. He is a keen promoter of education, having endowed 600 primary schools under Project Hope in various parts of China. He is also keen on preserving China's cultural heritage: he supports Beijing opera on the mainland. Not only did he fund the establishment of opera schools in China, he also sponsored the visits of many renowned troupes to Hong Kong, thereby promoting a traditional art form and directly contributing to the quality of our cultural life. However ， while his kindness has taken many and varied Chinese University Bulletin Spring • Summer 1999