Hong Kong may lack natural resources such as gold and oil, but its international standing remains valuable to mainland China, tycoon Michael Kadoorie has said, while also encouraging younger residents to view the city's situation as a glass half full rather than half empty.
In a 20-minute TV interview aired on Saturday, the chairman of electricity supplier CLP Holdings and Hongkong and Shanghai Hotels (HSH), which owns and runs the luxury Peninsula group of properties, weighed in on issues that the city, his family and younger Hongkongers face.
Kadoorie told Trade Development Council chairman Frederick Ma Si-hang on the latter's talk show, The Spirit of the Lion Rock Fred Ma, that Hong Kong was not without its problems but described the city as ever-changing, expressing confidence in its ability to bounce back stronger and higher.
Asked about his view on Hong Kong's future, 83-year-old Kadoorie said: "We have no oil, we have no gold, so it's the work that goes on here, that makes Hong Kong an international city, which is of value to the mainland.
"If we can do that, and maintain that, then we are doing the right thing. I believe we can do that."
Hong Kong-born Kadoorie is the third generation of an Iraqi-Jewish family that arrived in the city 140 years ago and thrived in the power supply and hotel businesses, as well as operating the iconic Peak Tram.
Forbes ranked him 14th among Hong Kong's 50 richest people, with a net worth of US$6.7 billion as of September 27.
Asked about the challenges faced by the struggling food and beverage sector arising from large numbers of Hongkongers spending weekends across the border, Kadoorie cited the metaphor of a rubber ball that his late father, Lawrence Kadoorie, often used as a symbol of resilience.
"The further the ball dropped, the higher it bounced," he said. "Hong Kong is no different. It has an ability to ride these waves and come out the other side stronger; that's always something Hong Kong should be proud of."
Kadoorie said he believed that there would be greater flows of people as Hong Kong sought new growth from the Northern Metropolis, the mega development near the border, which will eventually house about a third of the city's 7.5 million residents.
"The expansion of Hong Kong is inevitable as we melt into the mainland and the mainland melts into Hong Kong; there will be much cross-flow of populations," he said.
Kadoorie said such robust development required a lot of preparation, such as providing an adequate electricity supply, which typically required as long as seven years to plan.
He added that closer cross-border integration gave Hong Kong an important role in the country's development.
"Hong Kong will always have a place to play, the president of the administration in China sees it as an international city, a city which has both capitalism and communism, and we can both live happily together," he said.
He added that many foreigners and overseas businesses had confidence in the city, which served as a gateway to the rest of the country.
"I think it has lots of value," Kadoorie said.
The tycoon also spoke for the first time about his large family, including a fifth generation in Hong Kong made up of a four-year-old grandson and a 1½-year-old granddaughter.
He revealed that his three children lived separately from him, with one based in London and the other two in Hong Kong.
His son Philip Kadoorie, 33, who is a non-executive director of CLP and non-executive deputy chairman of HSH, is the heir apparent to the family's business empire.
"We have five generations here. Family is vital, the DNA comes through. Our privileges and obligations, that is all part of the family," Michael Kadoorie said.
Hong Kong was a city full of opportunities and young people should be ready to seize them, he added.
"Every generation thinks they can do better than the previous one, I mean I see that in my children. That's the right way of looking at life," he said.
"I encourage [young] people to look at the opportunities, to see the glass as half full rather than half empty; I'd like for everyone to have that optimism."
Ma has also interviewed veteran comedian Michael Hui Kwun-man, three-time Asian Games gold medal-winning cyclist Wong Kam-po and Cantopop heartthrob Keung To.
Ma told the Post he was inspired last year to create the 10-part series by what Olympic gold medallist Vivian Kong Man-wai called the "Hong Kong spirit" that never gave up.
"When coming up with interviewees, I thought of Sir Michael. It is because he is an iconic figure who gives back a lot to society, is passionate about younger people and has never been interviewed on the TV," Ma said.
"Not long later, I came across him at the Peninsula Cup at a Jockey Club racecourse, so I invited him and he said yes!"
The interviews explore the guests' keys to success and reflect on the "Lion Rock spirit", a term that emerged in the 1970s to describe Hongkongers' can-do attitude and which Ma said reflected resilience, agility, diligence and innovation.
(Source: SCMP)
Related News:
HK exports rise for 18 consecutive months: Up 14.5% last month exceeding expectations
CDItalk | HK strengthens its global financial centre status in GFCI 38
Comment