? World Ship King, Bao Yugang

It is understood that Tianyi Pavilion, the first library in Jiangnan, has a large collection of genealogies. At present, there are nearly 550 genealogies, involving more than 100 surnames. In 1980s, Bao Yugang found himself the 29th generation grandson of Bao Zheng in Tianyi Pavilion.

Bao Yugang was born in 19 18 in Ningbo, Zhejiang. His father, Bao Zhaolong, is a businessman who runs the paper industry. Bao Yugang studied in Shanghai when he was a child. When he was in college, he was facing the Japanese invasion of China, so he couldn't study any more. First I worked as a clerk in a bank in Hengyang, and then I worked in Chongqing Central Trust Bureau. With the smart and serious style of Ningbo people, his business is booming, so he became the manager of Chongqing Mining Bank after the victory of the Anti-Japanese War. Later, he returned to Shanghai as the business manager of Shanghai Bank. Many people think that with Bao Yugang's achievements and talents, after several years of hard work, the highest position of the president will definitely be his!

However, at this moment, Bao Yugang unexpectedly submitted his resignation letter to the President, saying that his interest was not in banking, but in other aspects. He gave up his career with his father in Shanghai, and the whole family moved to Hong Kong, and went to another world with a little money accumulated over the years.

At first, he and his father were partners in import and export business, buying dry goods, bean cakes, duck feathers, chemical fertilizers and livestock feed from China and selling them abroad. Later, because China * * * decided to implement the national unified export of local products, the business of small insurance companies could not go on. What will you do in the future? My father's choice is to run real estate. He is an old-school businessman and believes that "no land is not rich" is the truth. However, according to Bao Yugang's own view, the Hong Kong real estate industry at that time could only collect government rent, which was a conservative investment and "dead"; Besides, they don't have much capital If they go to speculate on land, they will have nothing if they are eaten. His favorite industry is shipping. He said to his father: "Shipping is a worldwide business, and assets can be moved, covering property, technology, insurance, economy, politics and trade, almost everything!" Although Bao Zhaolong was not very happy, he appreciated his son's independent thinking and courage, so he finally agreed with Bao Yugang.

1955, 37-year-old Bao Yugang began his dream of "ship king". However, with their money at that time, they couldn't even afford an old boat. He made a special trip to England to borrow money from an easy-going friend. But when that friend heard that he wanted to borrow money to buy a boat, he became like a stranger. Even if he refused to help, he shook Bao Yugang's shirt and sarcastically said, "Brother Yugang, you are too young to know shipping. Be careful not to lose your shirt! " This greatly hurt Bao Yugang's self-esteem, and he secretly vowed to do great things.

Bao Yugang returned to Hongkong empty-handed and had to borrow money from HSBC. However, HSBC is not interested in shipping. They think that shipping is too risky. These ship owners don't know which day they will be blown into poverty by the storm, and even become "Robinson" on a desert island! And China people don't know anything about shipping, so it's too risky to lend them money to buy a boat? The principle of banks is not to engage in venture capital! Undaunted, Bao Yugang turned and went to Japan. Interestingly, the Bank of Japan agreed to lend him money without asking him to find a Japanese company as a guarantee. In this way, Bao Yugang pooled $770,000, went to England again and bought a second-hand ship powered by burning coal. This ship has been in use for 28 years, and its displacement is only 8,200 tons. Bao Yugang looked at the old ship like a hill, but like a rare treasure. He renovated and painted it and named it "Jin 'an". He said that the name symbolizes his vision and vision of operating the shipping industry: the word "gold" means making money, and the word "security" means striving for victory in stability.

When the Jin 'an sailed from England to Hongkong and passed through the Indian Ocean, Bao Yugang had already done two things. One is to establish "Global Shipping Group Co., Ltd.", and the other is to negotiate with a Japanese shipping company to sublet "Jin 'an" to this company to transport coal from India to Japan. Bao Zhaolong watched his son sitting on the sofa in Hong Kong and arranged all this. He also has to admire his son's ability. This ship, which he has never seen before, has already started to make money for the Bao family!

At that time, people in the shipping industry all over the world adopted the traditional short-term leasing method, that is, every voyage was settled with the charterer. This not only charges a high standard, but also increases the freight rate at any time. World-famous Greek captains onassis and Nicholas, American captain Ludwig, and old port captain Dong Haoyun all did the same. However, Bao Yugang has unexpectedly adopted a long-term lease business model, that is, by entering into a contract, it rents its own boat to others for three years, five years or even 10 years, and the lessor pays the rent on a monthly basis, but the rent standard is much lower. When some colleagues saw Bao Yugang doing this, they all laughed at him as a "layman" and a "fledgling little fool"! However, Bao Yugang has his own abacus. He admitted that he was not familiar with shipping business. It is better to rent it to others for a long time, but he can get rental income continuously and steadily. In this process, he can gradually learn shipping business!

Bao Yugang really seized a good opportunity to make a fortune. The year after he bought the Jin 'an, the Suez Canal was closed due to the Egyptian war, and the shipping cost soared. At the end of that year, Jinan earned enough money for Bao Yugang to buy seven new boats! By the second half of 1957, the shipping industry was depressed and the freight rate fell to the lowest point. Those shipowners who are engaged in short-term leasing must pay their old money every day, but only Bao Yugang can collect the rent steadily through contracts. Facts have proved that his "amateur" business strategy is the best. People have to admit that Bao Yugang's luck and vision are first-class!

After this low tide passed, many people learned from Bao Yugang's method and began to buy old boats for long-term lease. However, Bao Yugang changed its policy and leased the new ship to others for a long time, and kept the old ship for its own use. Because, renting a new ship, the rent is naturally higher than the old one; The old ship is used by itself, and the effect is the same as that of the new ship.

Although Lien Chan won, Bao Yugang was still not satisfied. He thinks it's too slow to buy a new boat only by operating profit, so he must try to get a loan from the bank. At that time, Bao Yugang was still an unknown millionaire, far from being a good investment target in the eyes of bankers. But Bao Yugang also has his advantages, that is, he has been a banker for 10 years, and he is very sure of the banker's psychology. If you want to find it, find the biggest bank. The biggest bank in Hong Kong is HSBC. Some people say that Hong Kong is manipulated by four major forces: * * *, Jockey Club, HSBC and Jardine Matheson Group. HSBC's assets exceed US$ 5 billion, which issues most of Hong Kong's banknotes and supports most of the trade. Its role is immeasurable!

Bao Yugang found Sandoz, a senior employee of HSBC. With fluent English and familiarity with banking, he quickly won the trust of Sandoz. After learning about Bao Yugang's long-term rental management model and income, Sandoz immediately decided to provide Bao Yugang with small low-interest loans.

On one occasion, Bao Yugang had the opportunity to buy a new 7200-ton ship for $654.38 million+00,000 and lease it to a Japanese shipping company. The two sides agreed to lease for five years. Japanese shipping companies are eager to use ships, so they are willing to come forward and ask their banks to help Bao Yugang buy ships. Bao Yugang calculated that the shipping company should pay him $750,000 in the first year, so there is no problem for the Japanese bank to open a letter of credit of $750,000 for him. So Bao Yugang went to Sandoz, hoping that HSBC would lend him $654.38 million to buy him a boat. He said that a letter of credit of $750,000 could be used as a guarantee, and HSBC would not be at risk.

1 10,000 dollars is not a small sum, and cautious Sanders will not trust anyone easily. He said rudely, "Mr. Bao, you are not telling a child that you will be rich, are you?" Bao Yugang asked unhurriedly, "Mr. Saunders, if I get the letter of credit, can you lend me a loan?"

Sandars simply replied: "Loan! As long as you have a letter of credit, I will lend it to you at once! "

Sandoz believes in his own experience: before you buy the Abao fishing port boat, you must be rented? (Sun, an inspirational figure) Do you want people to ask the bank to open a letter of credit for you? Doesn't this mean that people pay you to buy a boat? ! How can there be such a good thing in the world? He decided that Bao Yugang was joking.

Bao Yugang is unequivocal. When he got home, he packed his bags and went to Tokyo. He said to the Japanese shipping company, "I'm here to apply for a letter of credit. Because I'm running out of money to buy a boat, give me the letter of credit and I promise to deliver the boat to you within three days. If you trust me, give me the letter of credit first! "

In this air-to-air struggle, Bao Yugang's good reputation has become the most powerful weapon. As a result, Sandoz not only fulfilled its promise to lend Bao Yugang US$ 6,543,800+,but also established a long-term cooperative relationship with Bao Yugang. 1962, Sandoz was promoted to general manager of HSBC. Less than two years later, HSBC began to invest in Bao Yugang Global Shipping Group Co., Ltd., and HSBC has actually become the logistics department of Bao Yugang, making Bao Yugang's funds snowball. Bao Yugang's position in HSBC also rose steadily, and later he competed to become the vice chairman of HSBC!

Japanese shipyards also trust Bao Yugang more, and often ask Bao Yugang to "sail first and pay slowly!"

Under the careful management of Bao Yugang, Universal Pictures' fleet grew rapidly, reaching its peak in 1980, with more than 200 ships with a total tonnage of 20 million tons. Foreign newspapers used a lot of space to introduce Bao Yugang, with the headline "Bionaz, Sith and Niacos are all big?" Sir Bao of Hong Kong. In the second year, the total tonnage of Bao Yugang's fleet reached 2 1 10,000 tons, which was larger than the total tonnage of the fleet owned by the United States and the Soviet Union, making it a veritable "world ship king"!

Although Bao Yugang became the world's shipping king, he also saw that the shipping industry was too risky and many successful shipping companies were ruthlessly eliminated. Therefore, from the early 1970s, he began to "land" and invested part of his property in the booming real estate industry, operating hotels and transportation. In order to achieve brilliant achievements on land and at sea, he and Li Ka-shing, the richest man in Hong Kong, launched a soul-stirring struggle with British Capital Group.

British-funded group and Chinese-funded group have always been two major capital groups that have long been in friction with Hong Kong's industry. Since Hong Kong became a British colony, British capital groups have monopolized many industries, and China capital has been at a disadvantage for a long time. However, since the Hong Kong economy took off in the 1960s, China's capital has gradually grown, and Li Ka-shing and others have long been eager to compete with British capital groups for the world. First, Li Ka-shing quietly bought the shares of Wharf held by Jardine Matheson of the United Kingdom, and has already held 65,438+08% of the shares. But at this time, Li Ka-shing felt that Hutchison Whampoa, a British-owned group, was more attractive to him, and it was difficult for him to eat both places at the same time, so he had a secret meeting with Bao Yugang, hoping that Bao Yugang could take over Wharf. If they can successfully control Hutchison Whampoa and Wharf, the monopoly position of British-funded groups in Hong Kong will be shaken!

As a native of China, Bao Yugang always wanted China Capital Group to be proud. He also knows the important position of the dock. Wharf is the largest wharf in Hong Kong, with assets of HK$ 6543.88+RMB 80 million. The land price in that area is already an inch of land. Mastering the dock means mastering the loading, unloading, storage and transportation of most materials in Hong Kong. So Bao Yugang expressed his willingness to accept Li Ka-shing's proposal. Li Ka-shing said frankly, "I have transferred all the 20 million shares of Wharf to you at the price of one share in 40 yuan. In addition, you transferred some shares of HSBC to me. "

Bao Yugang knew that when Li Ka-shing bought these shares, he only spent 13 and 14 yuan per share, but he knew more about the benefits of mastering Wharf. He pondered for a while, and then said, "You can lower 4 yuan per share, and we'll make a deal right away!"

Li Ka-shing agreed without hesitation. Two Hong Kong "sea and land generals" smiled and shook hands to say goodbye. Bao Yugang, who holds 20% of the shares of Wharf, naturally entered the board of directors of Wharf. But he was not satisfied, but continued to buy Wharf shares quietly. 1980 In April, Bao Yugang announced that it had controlled 39 million shares of Wharf, accounting for about 30% of the total. The British people are in a panic, because they only hold 20% of the shares in Wharf, which means that the power of the chairman must be handed over to Bao Yugang! In other words, Jardine Matheson will lose Wharf.

Jardine Matheson approached HSBC, a back-office bank, and asked HSBC to provide sufficient cash support to acquire a large number of shares in Wharf. On June 20th this year, while Bao Yugang was on vacation in Europe, Jardine Matheson suddenly launched a counterattack, intending to buy 30 million shares of Wharf at a high price of 95 yuan per share, making its shares account for 49% of the total, far exceeding the number of shares held by Bao Yugang. They think that once this plan is announced, Bao Yugang will definitely quit the competition. Because, Bao Yugang must buy another 20 million shares to maintain its advantage, and it is impossible to take out 2 billion cash overnight.

Bao Yugang received this urgent message from his villa in France. His heart ached and he was deeply impressed by the strength of Britain, an old capitalist country. He's almost desperate! At the same time, he also realized that Li Ka-shing gave him a rose with thorns!

Bao Yugang is determined to fight Britain. He announced that he would visit the President of Mexico, but quietly left for Hong Kong on June 22nd. A few hours later, he announced with a smile at the press conference that he had "walked around the pawnshop" and had raised enough funds to buy 20 million shares of Wharf at a high price of 105 yuan per share!

Early the next morning, a large number of minority shareholders holding Wharf shares flocked to sell their shares. In just two hours, Bao Yugang mobilized 2 1 100 million yuan to complete his acquisition plan. At this point, his stock in Wharf is 19% higher than that of Jardine Matheson Group, and he completely controls Wharf!

I don't know how many people are sighing: my god, 2 1 100 million, it takes 2 100 millionaires to get together to get so much money!

The "World Ship King" landed in one fell swoop and firmly grasped the control of the land! Bao Yugang has achieved great success, and he is respected far beyond the scope of industry. After the Queen of England knighted him, the Emperor of Japan, the King of Belgium and the Presidents of Panama and Brazil all awarded him medals or medals. On the wall of his office, there are pictures of him and the most important people in the world-Reagan, Elizabeth II and others. ...

Although Bao Yugang has such a prominent prestige, he has been following his father's teaching for decades: "Do things in a down-to-earth manner, be approachable and be handy."

Although Bao Yugang has countless possessions, he never allows himself and his relatives to live an extravagant life. He only allows his family to spend 10 days in Hawaii every year, and his daughters can only buy one pair of shoes at a time. He never allows his children to take part in Hong Kong's "Tour of the Rich Around the World". ...

However, he is generous to the country where he was born. Shortly after the founding of New China, he issued construction bonds for the first time. He tried his best to subscribe for tens of thousands of Hong Kong dollars. After the reform and opening up, he took the lead in buying ships made in China, which promoted the export of ships from China. 1979, he donated100000 dollars to build a new tourist hotel in Beijing? Zhaolong Hotel; Soon, it donated $654.38 million to build Zhaolong Library in Shanghai Jiaotong University. He donated 50 million yuan to establish Ningbo University, and invested 6 million dollars to build a joint venture with the mainland to build Ningbo Iron and Steel Plant. ...

On September 23rd, 73-year-old Bao Yugang died at home.

Bao Yugang

Bao Yugang (1918—1991) was born in Bao Zhong Village, Zhenhai Zhuang City, Ningbo City, Zhejiang Province.

Father Bao Zhaolong (1895— 1982) opened a shoe store in Wuhan and a money house in Shanghai in his early years, and later served as the manager of Hengyang Industrial and Mining Bank and Chongqing Industrial and Mining Bank.

After the victory of the Anti-Japanese War, he became the manager of Shanghai Banking Department.

1946 set up Guofeng paper mill in Shanghai.

/kloc-in the spring of 0/949, he moved to Hong Kong with his family, engaged in import and export trade, and then started shipping.

1967, expanded into a global shipping group, and served as the chairman and honorary chairman.

In order to promote the construction of hometown, the consultant of the State Council Ningbo Economic Development Coordination Group, Yungang Friendship Association and Honorary President of Ningbo Economic Construction Promotion Association were hired to donate 50 million yuan to establish Ningbo University, and then to build Bao Yugang Library, Zhongxing Middle School, Zhaolong Bridge, Bao Zhong New Village and Zhaolong Highway. With relatives and fellow villagers. The former residence exists.

[Edit this paragraph] Bao Yugang's life

Bao Yugang was born in a small businessman's family in Ningbo, Zhejiang. His father Bao Zhaolong is a businessman who does business in Hankou all the year round. Busy as he is, he is strict with his children. As his family is quite rich, he decided to let his children receive the best education in the local area.

Ningbo, located on the coast of the East China Sea, is the largest port city in Zhejiang Province, and one of the "five-port trade" ports after the Opium War. It has a long business tradition and formed a famous business gang in history-Ningbo Gang. Bao Yugang's village is not far from the sea, but since he went to Zhenhai with his father, he has been fascinated by the vast sea and merchant ships on the sea. His favorite thing at school is to see the sea and ships, where he spent a happy childhood.

13 years old, his father sent him to Shanghai to study. Shortly after arriving in Shanghai, he plunged into Wusong Ship Administration School to learn about ships. After the outbreak of War of Resistance against Japanese Aggression, he moved to Chongqing. Here, he didn't follow his father's wishes to continue his studies in college, but went to a bank and became a clerk.

1938, Bao Yugang came to Shanghai and worked in the insurance department of the Central Trust Bureau. With his own efforts and accumulated experience in the bank, in just seven years, he was promoted from an ordinary clerk to the manager of Hengyang Bank, the manager of Chongqing Branch, and finally became the deputy general manager of Shanghai Bank. The road ahead is smooth sailing. But at this time he resigned, because he was not interested in this aspect, and his relatives and friends were puzzled.

1949 At the beginning of this year, Bao Yugang and his father went to Hong Kong with savings of several hundred thousand yuan. I started a small business and accumulated some money, but what should I do next? Bao Yugang remembered his childhood longing for the sea, so he put forward the idea of sailing. His mother advised him to "risk three points for racing boats", and engaging in shipping is equivalent to betting all assets. If he is not careful, he will go bankrupt. His father thinks that Hong Kong's shipping industry is very developed and the competition is fierce, while Bao Yugang is a layman in shipping. Why does he want to run shipping? However, Bao Yugang has made up its mind to seek development in the marine transportation industry. While continuing to convince his father and other family members, he learned about ships and shipping, and carefully studied books about shipping and ships.

Bao Yugang can finally realize his dream at sea! Although the journey is very difficult, he is 37 years old.

There was not enough money at first. With the help of friends, more than 700,000 dollars were raised. Bao Yugang made a special trip to England to buy a second-hand ship powered by burning coal. This ship has been used for 28 years, with a displacement of only 8,200 tons. Although the ship was in tatters, Bao Yugang regarded it as a treasure, renovated it, painted it and named it "Jin 'an". This ship is the beginning of his career. 1955, Bao Yugang established "Global Shipping Group Co., Ltd." and negotiated with a Japanese shipping company to sublet "Jin 'an" to this company to transport coal from India to Japan on a long-term lease basis.

This is a risky decision, because at that time, people in the shipping industry all over the world adopted the traditional short-term leasing method, that is, they settled accounts with charterers every voyage. This not only charges a high standard, but also increases the freight rate at any time. Onassis, the world-famous Greek captain, Ludwig, the American captain and Dong Haoyun, the captain of the old port ship, all did the same. However, Bao Yugang is different from all of them. He unexpectedly adopted a long-term lease operation mode, renting his boat to others for three years, five years or even 10 years. Tenants pay monthly rent, but the rent standard is much lower. Many people are laughing at the boy for overreaching himself and not knowing the rules, but Bao Yugang has his own plan. He once said to someone, "My motto is, I would rather make less money than take risks." What he pursues is a long-term stable income, which is a long-term business method. And short rent will take some risks.

In fact, it is this slow and steady way that distinguishes Bao Yugang from other shipowners, and finally sits on the throne of the world ship king.

World ship king

As the saying goes: "Know yourself and know yourself, and you will win every battle." While choosing long-term lease as the operation mode, Bao Yugang is also thinking about another problem. His experience as a bank clerk made him understand the importance of funds to an enterprise. To make his shipping career develop rapidly, he can't do it alone, and he must get the support of the bank. So Bao Yugang ran around looking for the door. He found a friend he made when he was engaged in import and export trade in his early years-Santos, a senior employee of Hongkong and Shanghai Banking Corporation. As we all know, the British-funded HSBC is a giant in Hong Kong's financial sector and the most well-funded bank in Hong Kong since 100.

With his fluent English and skillful business, 1956, Bao Yugang took out a mortgage loan from HSBC with a boat, and obtained a small loan with Saunders' consent. Later, Bao Yugang got an opportunity to buy a 7,200-ton ship for $6,543.8+0,000, and found a charterer, but he had no money to buy a boat. What should I do? So Bao Yugang borrowed $654.38 million from Sandoz, $654.38 million! At that time, it was definitely not a small sum. Sandoz thinks that Bao Yugang is joking, and there is no money or deposit. What if he loses money? However, Bao Yugang took advantage of the charterer's urgency and actually got a "letter of credit" of $750,000. Sandoz was completely moved by the young man's perseverance, and he agreed to lend Bao Yugang money. This "air-to-air" victory is the beginning of the loan relationship between Bao Yugang and HSBC. In the subsequent loan cooperation, he took honesty as the foundation, gained the trust and support of the bank, and provided a strong source of funds for the development of his career. Later, Bao Yugang became the director of HSBC and became the "first person in Asia".

[Edit this paragraph] The legend of standing up

On the ocean, Bao Yugang achieved his career, but he was not satisfied. In the 1970s, he decided to gradually shift his focus to land. Part of the earned property will be invested in the increasingly prosperous real estate industry, operating hotels and transportation. In order to achieve brilliant achievements on land and at sea, he and Li Ka-shing, the richest man in Hong Kong, launched a soul-stirring struggle with the British capital group, which was the famous Battle of Wharf.

At that time, "Wharf" was the main force of Jardine Matheson, the first of the four foreign firms in Hong Kong, and also one of the largest British-funded enterprise groups in Hong Kong. With the help of Li Ka-shing, Bao Yugang secretly bought a large number of shares in Wharf. 1in April, 1980, Bao Yugang Longfeng International Co., Ltd. announced that it had controlled about 30% of the shares of Wharf. Only about 20% of the shares of Wharf are in the hands of another major land company under the Jardine Matheson Consortium, and the situation is obviously unfavorable to Jardine Matheson Consortium. In order to keep Wharf, Land Company angrily mobilized a large amount of funds to buy shares in Wharf at a high price of 100 yuan, trying to squeeze Bao Yugang out of Wharf. Facing the formidable enemy, Bao Yugang calmly took up the challenge and miraculously mobilized 2 1 100 million yuan in cash in three days. It took only two hours to increase the shares of Wharf to 49% and completely control the enterprise. Land enterprises that have always looked down on China's capital have not won the "dock", but have hurt their vitality.

This campaign stirred up the whole Xiangjiang River, boosted the ambition of the Chinese people and hit the arrogance of the British-funded consortium. Between talking and laughing, Bao Yugang mobilized 2 billion yuan and became a legend.

1985, Bao Yugang won the equity of Huidefeng, a Hong Kong-funded group, for S $500 million, becoming the second Hong Kong resident to win the four major foreign firms with British capital after Li Ka-shing entered Hutchison Whampoa. 1986, Bao Yugang acquired 4.5% shares of Standard Chartered Bank/kloc-0, another note-issuing bank in Hong Kong, and became the largest individual shareholder of the bank. The ship king "abandoned the ship and went ashore" to create another miracle!

At this point, Bao Yugang's maritime dynasty and land kingdom reached their peak. His wealth is amazing, and some people say that he once considered buying a country. He joked himself, "I don't want to know how much property I have, because I'm afraid my heart will stop beating because I'm at a loss."