China Brands, Marketing & Consumers

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

Published

7 years ago

March 24, 2018

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
Follow @whatsonweibo

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.

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China Brands, Marketing & Consumers

Wahaha and Jinmailang: the Bottled Water OEM Controversy

Published

4 weeks ago

May 16, 2025

Manya Koetse

What’s in your water? Would a water by any other name taste as good? That’s the main gist of the topic that’s been trending these days after Chinese consumers found out the Wahaha water they purchased was actually produced by Jinmailang, calling it an ‘OEM controversy’ (OEM stands for Original Equipment Manufacturer).

Wahaha Group (娃哈哈集团) is one of the largest food and beverage producers in China. The brand is a beloved one—last year in March, when its founder and chairman Zong Qinghou (宗庆后) passed away, people collectively began buying Wahaha water to show sympathy for the brand and for Zong, who was seen as a patriotic and humble businessman.

Big bottle of Wahaha (meaning “laughing child”) water.

In fact, that movement to pay tribute to Wahaha got a bit out of hand and turned into a grassroots campaign to boycott another water brand: Nongfu Spring, a competitor whose founder, Chinese entrepreneur Zhong Shanshan (钟睒睒), was not considered as patriotic (read more here).

Now, a different kind of ‘controversy’ is unfolding around China’s famous bottled water brand, directly related to last year’s sales boom. Chinese netizens have posted videos and images claiming that the Wahaha purified water they bought was actually produced by Jinmailang (今麦郎)—as stated on the label.

Wahaha water, produced by Jinmailang (今麦郎).

Jinmailang is an entirely separate food enterprise group—mostly known for its noodles—based in Xingtai, Hebei, since 1994. Both Wahaha and Jinmailang produce purified water (纯净水).

The fact that Jinmailang was mentioned on Wahaha’s labels as the producer raised questions: why bother buying Wahaha at all? Consumers might as well buy Jinmailang directly instead of these relabeled bottles? Wahaha is generally more expensive than Jinmailang’s own Blue Label water.

Wahaha’s customer service soon responded, confirming that they had indeed outsourced some of their production to Jinmailang. However, that partnership was terminated in April of this year after certain batches of purified water products failed to pass factory sampling tests (#娃哈哈称已终止和今麦郎代工合作#).

Customer service staff also stated that as long as Wahaha products are purchased through official channels, they comply with Wahaha’s quality standards and are safe to drink.

On May 16, Xinhua News published an interview with Fan Xianguo (范现国), the chairman of Jinmailang, about serving as an OEM for Wahaha. Without mentioning the termination of the partnership, Fan stated that last year, Wahaha’s bottled water sales suddenly soared, and that they began searching for companies that could support them during these peak times while adhering to their strict quality requirements – otherwise they would not be able to meet market demand.

Producing 1.2 billion bottles of water for Wahaha. Jinmailang’s xinua interview.

Jinmailang stepped in around June 2024, promising to support Wahaha’s production. During the peak season, they even prioritized Wahaha’s orders over their own. Over the course of a year, they produced 1.2 billion bottles of water for the company. Speaking about their own brand, Fan stated that they keep their prices as low as possible by minimizing their profits. One bottle of water only gives them 0.02 RMB ($0,0028) profit.

The interview seemed to cause a shift in online sentiments. Many netizens now praised Jinmailang for its response and for stepping in, viewing the cooperation as an example of domestic brands supporting one another.

Some suggested that Wahaha had betrayed Jinmailang by emphasizing the termination of their contract rather than acknowledging how the company had stepped in to help during a time of need.

At the same time, others applauded how Jinmailang turned the situation to its advantage by using it as an opportunity to promote its own brand.

“I’m switching to Jinmailang from now on, it’s way more cost-effective!” one comment read.

Especially since last year’s “water wars”, it’s clear that consumers’ choice of water is about more than quenching thirst alone — it’s also about which brand’s story resonates with them. As the peak season for bottled water is approaching, the OEM controversy comes at an especially unfortunate time for Wahaha. It’s Jinmailang that now seems to be having the last laugh in this OEM controversy.

By Manya Koetse

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China Brands, Marketing & Consumers

‘Lai Dou Lai Le’: IShowSpeed Debuts in Chinese Online Commercial

Published

1 month ago

May 8, 2025

Manya Koetse

🔥 A version of this story also appeared in the Weibo Watch newsletter. Subscribe to stay in the loop.

The China tour of American Youtube star IShowSpeed (Darren Watkins Jr.) is still echoing on Chinese social media—the hype hasn’t quieted down just yet, especially now that the popular livestreamer launched his very first Chinese commercial recently, just before the May Day holiday.

It’s an online commercial for China’s dairy giant Yili, and—in line with IShowSpeed’s high-energy livestream—it is entertainingly chaotic. Watkins himself posted the video on his Weibo account on April 30.

In China, Watkins is known as 甲亢哥 (Jiǎ Kàng Gē), which literally means “Hyperthyroidism Brother.” Hyperthyroidism is a condition where the thyroid is overactive, leading to symptoms like restlessness, a rapid heartbeat, and high energy levels. Due to Watkins’ fast-paced livestreams and his reputation for running, screaming, and jumping around, the nickname is a tongue-in-cheek reference that fits him well.

The commercial also suits him, as it is a bit of a rollercoaster. It begins like a typical celebrity endorsement, with Watkins promoting a dairy drink, but quickly shifts into a quirky narrative. In it, Watkins appears god-like, watching over people from a mountaintop and encouraging them to try new things. The ad then morphs into a music video before ending with some inspirational words from the YouTuber himself. Watch the commercial here.

The slogan used in the commercial is “lái dōu lái le” (来都来了), along with the English tagline “Enjoy milk, enjoy holiday.”

“Lái dōu lái le” (来都来了) is a simple phrase that basically means “You’re already here,” and implies a light-hearted “Why not?” to encourage people to go on and do something (since you’ve come this far), or try something new.

Dao Insights’ Yimin Wang explained it as having a positive and daring tone to try new things that you’d otherwise “wouldn’t, couldn’t, or even shouldn’t,” much like “YOLO” from the early 2010s (link).

On Xiaohongshu, typical responses to the commercial describe it as “creative” and “cute.” More notably, many users see it as proof of how successful Watkins’ tour in China has been. “He’s like a native celebrity in China now,” one commenter remarked.

By Manya Koetse

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