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Hong Kong ‘Super-business-man’ Li Ka-shing Announces Retirement at 90 Years Old

Ryan Gandolfo

Published

5 years ago

on

The beloved Hong Kong business ‘Superman’ Sir Li Ka-Shing officially announced his retirement – at 90 years old.

He is called ‘Superman’, he is known as Hong Kong’s richest man, and is said to be ‘Asia’s answer to Warren Buffet.’ Chinese business magnate Li Ka-Shing (李嘉誠) announced his retirement during a press conference on March 16.

With an estimated wealth over $34 billion dollars, Li, chairman of CK Hutchison Holdings, is the 23rd wealthiest person in the world, as well as the wealthiest person in Hong Kong. His business spans the fields of shipping, retail, construction, telecommunications, and energy.

Li was born in 1928 in Chaozhou, Guangdong, but moved to Hong Kong during World War II. The young Li started from a company making plastic flowers, and soon bloomed into one of China’s most successful entrepreneurs.

His first acquisition, back in 1979, made him the first Chinese-born businessman to buy a British trading company. His next notable purchase occurred seven years later when the global oil prices fell to $11 per barrel. At a time of market hysteria, Li Ka Shing made the bold move to buy controlling shares in Canada’s Husky oil company. He has since referred to the acquisition as “the greatest investment” in his lifetime.

Li Ka-shing during press conference.

Li Ka-Shing’s investments have even stretched to England’s energy and water sector. According to the Financial Times, roughly 25% of the electric market, 30% of the natural gas market, and close to 7% of the supplied water market are under Li Ka-Shing and his company’s ownership.

It is Li’s work ethic, along with his frugality and modesty, which made that he is often compared to Warren Buffet. Li is also an active philanthropist, like Buffett, providing grants and scholarships through his Li Ka Shing Foundation.

In Friday’s conference, Li announce that Victor, his eldest son, will take over as chairman of CK Hutchison Holdings, while Li will play an advisory role.  He also stated he will focus on his charity foundation in his retirement.

The reactions to his retirement on Chinese social media have mainly highlighted the respect netizens have for Li Ka Shing as a businessman. One netizen recalled Li’s famous “coin story” reminding people not to waste money and our role in the economy.

According to this blog, the story is a follows:

“One day, Li was driven back home after work. When Li got off from his car, he dropped a $10 coin, and the coin rolled underneath the car. Li bent down and stretched his hand under the car in order to grab it back. With Li’s age, he was not able to do so even after a few tries. Li’s driver saw the situation, and asked, “Mr Li, what are you doing? Is there anything I can do for you?” Li told him that he lost his $10 coin. The driver took off his jacket, knelt down and grabbed the $10 coin out from beneath the car, and gave it back to Li. Li smiled, and happily put the $10 coin into his pocket. He then took out a $100 note, and gave to the driver as appreciation.Li said to the interviewer, “It’s not about the value of the money. I gave my driver $100, he would spend it and make use of it. If I didn’t pick up the $10 coin, it would be lost forever and wasted.”

Another person simply posted: “A person like Li Ka Shing just can’t retire,” while other praise Li for how he treated other people.

“He’s a legendary business person of his generation,” commenters on Toutiao.com say.

Others are more moderate, simply saying: “He’s pretty cool.”

Interested to read more about Chinese legendary business persons? Read the story of Tao Huabi, Lao Gan Ma’s spicy godmother.

By Ryan Gandolfo

  • Featured image: Li on the cover of the Far East Economic Review magazine in 1981. He earned the nickname ‘Superman’ through his impressive business dealings and foresight in the market.

Spotted a mistake or want to add something? Please let us know in comments below or email us.

©2018 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com.

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Ryan Gandolfo

Ryan Gandolfo is an Economics graduate from Miami who has worked and lived in Shanghai, Baoding, and Guangzhou. He is interested in China's growing role in the global economy and closely follows the development of major Chinese technology firms. 

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China and Covid19

Chinese Tourism Bureau Chiefs Go Viral for Trying Really, Really Hard to Attract More Post-Covid Domestic Tourists

It’s a Culture & Tourism Bureau social media battle: China’s local tourist offices are fighting to go viral to attract more visitors.

Manya Koetse

Published

2 weeks ago

on

March 9, 2023

By

Hoping to attract more domestic tourists in the post-Covid-era, Chinese local government officials are trying really hard to promote their hometowns. Various tourism bureau chiefs from across China are going viral on Weibo, Douyin, and beyond for dressing up in traditional outfits and creating original videos with low to zero budget.

Another local Chinese tourism bureau chief went viral today – it’s an entire trend by itself. Tourist department offices under several local governments in China are trying really hard to promote their hometowns these days in hopes of attracting more domestic tourists in China’s post-Covid era.

Government officials are showing their best side – and their most creative one – on social media to convince tourists to visit their region. In doing so, these local bureau chiefs have been attracting online attention for appearing in promo videos in various creative ways (#为了让你去玩儿文旅局长们能有多拼#).

Since early 2020, China’s tourism industry has been heavily impacted by the pandemic and China’s strict Covid measures and lockdowns. At various moments during the pandemic, China’s domestic tourism saw an increase in holiday bookings as tourists still wanted to travel but could not easily travel abroad.

Now that China has lifted blockades on foreign travel, the post-zero-Covid itch to travel is back in full swing. As travel to other countries is seeing a boom again (while tourist visas to mainland China are still halted), local tourist offices are doing all they can with a minimal budget to encourage domestic travel to their lovely hometowns.

The trend of China’s tourist bureau chiefs finding innovative ways to promote their regions or towns via social media has been going on for some time already, but it wasn’t until recently that they really gained nationwide attention for their efforts.

The recent viral trend is not only generating more attention for the specific towns and regions promoted in the videos, it is also bringing more recognition for the drive of China’s Culture & Tourism Bureau chiefs – officials who usually rarely get the limelight. Many Chinese netizens agree that it must take a lot of talent and creativity to become a local tourism bureau chief nowadays.

 

1. TOURISM BUREAU DIRECTOR OF ZHAOSU COUNTY (XINJIANG)


Riding a horse through a windy snowy country, He Jiaolong (贺娇龙) was the first local official to feature in a social media video to promote the Yili region. The video of the vice-county head of Zhaosu, all dressed up, went viral in the winter of 2020.

Chief He later told reporters that she did not expect the video to go as viral as it did. According to Shine, He Jiaolong said: “I invited two horse lovers to help us promote local tourism on social media. We borrowed the costume from a local art troupe. They posted my horse-riding videos on Douyin and received enthusiastic responses.”

A ‘behind the scenes’ video later published on Douyin showed He falling over and battling the cold during the filming, only making the local official more popular for her dedication.

 

2. TOURISM BUREAU DIRECTOR OF SUIZHOU (HUBEI)


In October of 2022, Xie Wei (解伟), director of the Suizhou Municipal Bureau of Culture and Tourism in Hubei province, made headlines for his performance in videos produced and directed by himself.

As reported by South China Post, Xie made the videos himself because the local tourism bureau did not have the budget for a professional production. Although the videos made by Xie went viral, they also received some criticism because of how Xie was role-playing and dressing up as an ancient knight.

Nevertheless, Xie Wei did breathe new life into this creative approach to destination marketing, inspiring other Culture and Tourism Bureaus across China to take a similar social media strategy and join on the battleground to win over the hearts of domestic travelers.

 

3. TOURISM BUREAU DIRECTOR OF TIBETAN AUTONOMOUS PREFECTURE


In February of 2023, it was the bureau chief of the Garzê Tibetan Autonomous Prefecture Tourism Office, Liu Hong (@甘孜刘洪), who went viral with various videos featuring him in traditional clothing, which earned him the nickname of “most handsome bureau chief” (“最帅局长”).

It was not the first time for Liu to star in his own tourism promotion video, as there was another video in 2022 in which he also did some cosplay to promote the Garze region (Sichuan).

Liu Hong is now known as one of China’s “celebrity tourism bureau chiefs” (网红文旅局长). The videos actually helped to promote the region but also turned Liu into a celebrity.

 

4. TOURISM BUREAU DIRECTOR OF DAWU COUNTY (SICHUAN)

On February 10 of 2023, it was the Cultural Tourism Bureau chief Jiangze Duoji (@降泽多吉) of Dawu County who professionalized the social media video trend and featured in a super slick 3-minute video with beautfiul shots and a creative idea.

In the intro of the video, Jiangze Duoji speaks English when he talks about his life question of “Who am I?” The video then shows the local official dancing in an astronaut’s costume in Moshi Park, one of the area’s most beautiful scenic spots that will make you feel like you’re in outer space.

The local official is then dressed as a Tang emperor at the Daowu dwellings, moves on to be a an old painter in the Yuke grasslands and King Gasar while galloping over the Longdeng prairie.

The video did not just go viral, it was also promoted by several state media outlets, making it among the most famous videos in this list. It’s also on Youtube here.

 

5. TOURISM BUREAU DIRECTOR OF TAHE COUNTY (HEILONGJIANG)

On February 27, the Heilongjiang Tahe Culture and Tourism Bureau (Daxing’anling prefecture) released a video in which a team of 34 people simulated a rocket launch in the snow.

Du Bo (都波), director of the Tahe County Bureau of Culture and Tourism, told reporters that the decision to shoot the video like this was made during lunch, with the position plan drawn out on a napkin.

With this original video, the local tourist office literally took the social media battle to another level (#塔河县文旅局长卷出新高度#). But Du Bo also stated that other tourist offices in China should not hold back and be scared to join the social media battle, saying they were all in this together to recover China’s domestic tourism industry (“不要怕卷，这种卷是一件好事，大家凝聚在一起，共同期待文旅行业的复苏”).

The tourist office also released a second video that gained popularity online, featuring a ‘snow queen’ in beautiful snowy landscape.

 

6. TOURISM BUREAU DIRECTOR OF MEISHAN (SICHUAN)


This video, which premiered late February of 2023, is also professionally made, with the Meishan Tourism Office taking the video trend very seriously.

The bureau chief demonstrates the beauty of kung fu in this short film, which also received many thumbs up on social media (#文旅局长用功夫带你游眉山#).

 

7. TOURISM BUREAU DIRECTOR OF GAOPING (SHANXI)


On March 7, a video from the tourist office in Gaoping, a county-level city in Shanxi’s Jincheng, also went viral on Chinese social media as “yet another tourist office chief joining the war” (#又一文旅局长申请出战#).

The video shows the local tourist bureau chief “going to war” in traditional costume to promote Gaoping as the hometown of Emperor Yan (#文旅局长戏服代言炎帝故里#).

 

8: TOURISM BUREAU DIRECTOR OF HUANGGANG (HUBEI)

The video posted on social media ‘on behalf of’ the Tourism Bureau of Huanggang, Hubei, also attracted a lot of attention online since many people believed the cosplaying bureau chief had suddenly turned into a handsome young idol.

It later turned out that this video was actually not an official one and was posted on social media without the permission of the tourist office by enthusiastic locals.

 

9. TOURISM BUREAU DEPUTY DIRECTOR OF SUQIAN (JIANGSU)


The hashtag is “Jiangsu’s Culture and Tourist Office Bureau Chief Joins the Battle” (#江苏文旅局长卷起来了#). Liu Bing (刘冰), the deputy director of the Tourism and Culture Bureau in Suqian, Jiangsu, is another local official who is going viral these days for his appearance in a self-produced promo video on social media (#江苏一文旅局长变装项羽代言家乡#).

In the video, Liu Bing is dressed as Xiang Yu (项羽), Hegemon-King of Western Chu, to endorse Suqian tourism. Suqian is the hometown of Xiang Yu (232–202 BC), who is considered one of the greatest military leaders in ancient China.

Although Suqian is one of the later Tourism Bureau hypes to join the hype, the video – published on March 9 – is still welcomed by netizens and is actually putting some pressure on other Chinese cities and regions to come up with their own videos featuring their own historical local heroes.

 

10. TOURISM BUREAU STAFF OF FUJIAN



 

Fujian might be a bit late in “going to war” and joining the social media battle between the Chinese Tourism and Culture Bureau chiefs, its new video (March 9) obviously took a lot of effort, as it features different members of staff in various tourist spots in Fujian province.

The hashtag “Fujian Culture and Tourism Bureau Joins the Battle” (#福建的文旅局长卷起来了#) circulated on Thursday, attracting nearly five million views on Weibo in one day.

 
By Manya Koetse 
with contributions by Miranda Barnes


 

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©2023 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com.

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China Brands & Marketing

Haidilao No Longer Allows Customers to Bring Their Own Food

While Haidilao is banning its bring-your-own-food option, customers can still bring their own drinks.

Manya Koetse

Published

4 weeks ago

on

February 24, 2023

By

It was listed as one of the most popular topics on Weibo on Thursday, February 23: Chinese hotpot chain Haidilao bans customers from bringing their own food (#海底捞禁止自带菜#).

Starting from Feb. 21, 2023, the popular hotpot restaurant strictly enforces its policy of not allowing guests to bring outside food.

Previously, some Haidilao locations did allow customers to bring small amounts of their own food or ingredients, as long as they would sign a waiver. Haidilao stated that the recent ban on bringing in own food is in line with the restaurant’s food management and safety policies.

Haidilao has hundreds of restaurants across China, and people often line up to get a table. Dining at Haidilao is known to be an experience in itself, as the hospitality of Haidilao staff is widely praised; staff members are thoroughly trained to give customers the best possible service. Throughout the years, the chain has introduced many new concepts to enhance customer experience.

Haidilao is all about hotpot, where you put fresh ingredients in a big pot filled with simmering broth. The pot is placed in the middle of the table, accompanied by plates of various meats, vegetables, noodles, condiments, dipping sauces, etc. The ingredients are to be cooked in the broth – Haidilao offers many different options from spicy to mild -and then taken out and dipped into the chosen sauce before eating. Because of this dining style, it would be relatively easy for people to bring their own ingredients as they could just cook them at the table.

Although most commenters on Weibo think it is only reasonable for Haidilao to prohibit people from bringing in their own food, there are still many discussions about the topic. On Thursday night, the topic had over 260 million views on Weibo. By Friday, the hashtag had over 420 million clicks.

The most recurring comments are from those people who did not know that it was previously allowed to bring some of your own food. They wonder why people would do that in the first place. “If you go out for hotpot and bring your own food, why would you not just have hotpot at home?”

Haidilao’s ‘bring your own food’ option was reportedly introduced in 2017 as part of the restaurant’s ‘customer always comes first’ marketing concept, allowing people to bring an ingredient or dish they especially liked to the restaurant.

Some people say they appreciated the option. One commenter posted a photo showing how they brought their own seafood to Haidilao, writing: “Bringing your own food can be so delicious (..), we did it and we still ordered from the restaurant. They made us sign a waiver.”

Another Weibo user (@王铜根) wrote: “I’ve been going to Haidilao for many years and only this year did I bring my own food on two occasions. Once, I bought a very nice beef at the supermarket but I was afraid it was going to thaw on my way home and then I realized I could bring my own food to Haidilao and I went and ate it there. While I was eating it, I thought, Haidilao is so amazing, I vowed that I’d always support them.”

Over a year ago, Haidilao announced that it was closing about 300 of its restaurants which had been doing worse than expected.

Haidilao suffered because of Covid and local lockdowns. Due to the restaurant’s increased labor costs, its menu prices went up, much to the dismay of many netizens, who already thought the prices at Haidilao were steep before the pandemic. In October of 2021, the story of a Haidilao customer in Zhengzhou discovering that the 200 grams of tripe he ordered for 72rmb ($11) was actually only 138 grams also went viral on Weibo, stirring discussions on the Haidilao menu prices.

While Haidilao’s choice to ban its bring-your-own-food option could be a strategic business choice, it also could have other motives related to marketing and legal reasons. (Also read our story on this scammer pretending to find coackroaces in his hotpot to get money from Haidilao.)

Haidilao still allows customers to bring their own beverages to the restaurant.

Read more about Haidilao.

By Manya Koetse 

Featured image via weibo @咚咚东_ddd

 

Get the story behind the hashtag. Subscribe to What’s on Weibo here to receive our newsletter and get access to our latest articles:

Spotted a mistake or want to add something? Please let us know in comments below or email us. First-time commenters, please be patient – we will have to manually approve your comment before it appears.

©2023 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com.

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