Chapter 125: The Hong Kong Rich List
The next morning, the *Jiu Ding Daily* was delivered to various newsstands as usual. However, unlike before, this time it also included the *Economics* magazine.
Ma Hui was still the one delivering the papers. He parked his bike in front of his cousin's newsstand and took out a stack of newspapers, placing them on the stand.
"Cousin, here are your one hundred copies of the *Jiu Ding Daily*! Please check them."
"No need to count the newspapers. Hurry up and give me the magazines!" the newsstand owner said impatiently, not even glancing at the newspapers but keeping his eyes on Ma Hui's delivery box.
The newsstand owner had been eagerly awaiting the *Economics* magazine, given the recent buzz surrounding it. Even though he was accustomed to seeing many newspapers and magazines, his curiosity was piqued by this one.
Unable to resist his curiosity, he was eager to see it for himself.
Ma Hui quickly retrieved twenty copies of the *Economics* magazine from his box and handed them to his cousin.
As soon as the magazines were handed over, his cousin eagerly snatched them, causing Ma Hui to roll his eyes. Despite this, Ma Hui felt a surge of pride knowing that their company's magazine was so well-received.
"I'm off now. Take your time looking at them, but don't forget to collect the payment!" Ma Hui said before riding off to the next delivery location.
This scene was not unique to this newsstand; it was happening all over Hong Kong and even Southeast Asia. The only difference was that the magazine's popularity was slightly lower in Southeast Asia.
While the newsstands received their deliveries along with the newspapers, bookstores had already received their copies the night before and were likely already selling them.
Another team was responsible for delivering magazines directly to companies, specifically those on the Hong Kong Top 100 Enterprises list.
This approach was intended to demonstrate the goodwill of Jiu Ding Media. Regardless of how it was done, delivering a magazine and showing their intent could help build relationships with these top companies.
After all, companies on the Top 100 list were major players with significant strength and influence. If they accepted the *Economics* magazine, advertising and sponsorships would likely be secured, with these companies potentially becoming major sponsors.
At HSBC, Chairman Shen Bi received the *Economics* magazine from his staff as soon as he arrived at the bank. It was noted that the magazine had been sent by Jiu Ding Media some time ago.
Seeing this, Shen Bi smiled, his impression of Xia Yu improving.
As soon as he sat down in his office, Shen Bi started reading the magazine. The cover featured his own photo. Upon seeing it, he felt a sense of satisfaction and commented to himself, "The photo looks great!"
He continued reading, and the more he read, the more pleased he became. He reluctantly moved his gaze away from the cover and opened the magazine.
The first article was authored by Xia Yu and was titled "On the Long-Term Development of Hong Kong's Economy."
Shen Bi's expression grew increasingly serious as he read. He stopped frequently to think, nodding in agreement as he continued. The article was over a thousand words long, and it took him more than ten minutes to finish reading it.
"Xia Yu's perspective is indeed sharp. This article is thorough, outlining the economic development trajectory of Hong Kong. He's truly talented!" Shen Bi remarked with admiration.
He continued flipping through the magazine and came across articles by Lin Shanyuan, Xu Zhixue, and others. Each article was full of valuable insights, and Shen Bi nodded repeatedly in approval.
When he reached the end, he skimmed through due to time constraints. However, two lists caught his attention.
"The Hong Kong Top 100 Enterprises List." Shen Bi read aloud and then looked down the list.
The top position was familiar: HSBC.
1. HSBC Holdings Limited, Hong Kong Branch: Market value of HKD 12.28 billion, a wholly-owned subsidiary of HSBC Holdings plc, the largest registered bank in Hong Kong, with… employees, over 200 offices, and holding 51% of Hang Seng Bank…
2. Jardine Matheson Group: Market value of HKD 9.46 billion, with subsidiaries including the Jardine Group, Dairy Company, Jardine Machine Group, Jardine Air Cargo Terminal, Jardine Pacific, Jardine Motors Group…
3. Swire Group: Market value of HKD 8.48 billion, with subsidiaries including Swire Properties Limited, Cathay Pacific Airways, Swire Shipping Limited, Swire Dockyard, Swire Coca-Cola…
4. Hutchison Whampoa: Market value of HKD 6.24 billion, with subsidiaries including Hutchison Port Holdings Limited, Hutchison Whampoa Property Limited, Watsons Group…
5. The Hongkong Land Group: Market value of HKD 4.62 billion, a subsidiary of Jardine Matheson Group, with subsidiaries…
6. Hang Seng Bank: Market value of HKD 4.27 billion…
7. Wheelock & Co.: Market value of HKD 4.01 billion…
15. Global Shipping Group Limited: Founder Bao Yugang, market value of HKD 2.52 billion…
16. Hong Kong Electric Company: Market value of HKD 2.42 billion, with a power supply monopoly on Hong Kong Island…
23. Henderson Land Development: Company valuation of HKD 1.82 billion, not listed, with subsidiaries…
28. Wharf Holdings: Market value of HKD 1.31 billion…
30. Cheung Kong Holdings Limited: Founder Li Ka-shing, company value of HKD 1.27 billion, with total assets of HKD 680 million…
100. Min Fung Group: Market value of HKD 220 million…
Shen Bi reviewed the list with a meticulous attitude and found it to be very rigorous. He couldn't find any flaws, as each company's ranking was based on a combination of market value and revenue, making it highly credible.
"Just based on this enterprise list, the *Economics* magazine has proven its value. It's already a success!" Shen Bi remarked with some admiration.
He then looked at the other list.
"*Economics* 1978 Hong Kong Rich List"
1. The Keswick Family: Core industry is Jardine Matheson Group, family assets of HKD 6.4 billion…
2. The Sy Family: Core industry is Swire Group, family assets of HKD 5.6 billion…
5. The Qi Family: Core industry is Hutchison Whampoa, family assets of HKD 2.58 billion…
7. Bao Yugang: Total assets of HKD 2.42 billion, with Global Shipping Group Limited, Global International Finance Limited, Lufeng International (Investment) Company…
32. The Li Peicai Family: Family assets of HKD 1.34 billion, owning East Asia Bank…
100. The Deng Zhian Family: Total assets of HKD 160 million…
"Remarkable, this ability to collect and process information is indeed impressive!"
"However, Jiu Ding Media knows its limits. This list is based on publicly available information, not delving into the private assets of each family. This is a wise move," Shen Bi said with an inscrutable expression, chuckling lightly.
From what he knew, some families' assets were definitely more than what the list showed. These assets were deeply hidden, with ownership often obscured, making them hard to prove as their own, though they were effectively controlled by these families. This was a common method for old families to hide their wealth.
For example, the Li Peicai family, known as "Hong Kong's Number One Li," controlled the top East Asia Bank. It was hard to believe their family assets were only HKD 1.34 billion, especially considering their position below Li Shaoji.
The Top 100 Enterprises list was straightforward, reflecting the surface-level information. Being on the list would benefit the companies greatly, and no objections could be raised.
However, the Rich List was different. Missteps could lead to significant issues, potentially offending powerful families capable of making a major impact in Hong Kong.
No one liked having their secrets exposed, especially when the exposed families wielded considerable influence. Any backlash from them would be a challenge Jiu Ding Media could hardly withstand.
Nevertheless, the *Economics* magazine's Rich List was based on publicly available stock information and did not delve into more concealed assets. This was a very smart approach, ensuring that other families had no grounds for complaints as the information was all public.
"Presumably, the *Economics* magazine has already caused a stir…" Shen Bi thought with a smile, glancing over the two lists once more.
The research for these two lists was exhausting and difficult, involving a lot of cross-checking to ensure consistency with the plot and previous details. The data needed to reflect the situation in 1977, when HSBC's profits were HKD 614 million, reaching HKD 3.5 billion by 1987, and HKD 147.5 billion by 2007. HSBC's market value of HKD 12.28 billion reflects a 20 times price-earnings ratio, which is typical for Western banks. Other companies were ranked according to HSBC's standards. Before Chinese capital made a move, British capital was still dominant. Moreover, the Hong Kong stock index was only around 400 points in 1977, expected to rise to 1800 by 1982, meaning companies' values could multiply several times. The richest person in 1978 was indeed a Chinese tycoon, who also ranked as the world's richest ship owner.