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

Ryan Gandolfo

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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 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 Digital

“Don’t Download This App!” – A Top 10 of Harmful Chinese Apps

This latest top 10 of harmful Chinese apps comes amid a heightened media focus on mobile users and cybersecurity in China.

Jialing Xie

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Thousands of apps are available to China’s mobile users, but not all of them are safe. These apps were marked as harmful by Chinese state media this week.

On September 17, Chinese state media outlet Xinhua News Agency issued a top 10 list of harmful mobile apps. The list, published via various social media outlets, raised discussions online about the security risks of seemingly innocent and fun apps.

The top 10 list comes during China’s 2019 “Clean the Web” (净网) campaign, an ongoing nationwide initiative organized by Chinese authorities to clean China’s digital environment by eradicating pornography and ‘illegal publications’ (扫黄打非).

As the People’s Republic of China will soon celebrate its 70th anniversary, the “Clean the Web 2019” campaign is now in full swing.

According to China’s National Computer Virus Emergency Response Center (NCVERC), the 10 listed ‘harmful apps’ posing hazards related to illegal gambling, stealing personal data, and having in-app downloads without users’ permission.

The full list of harmful mobile apps (and their bugged versions) is as follows.

 

The following first four apps are accused of personal data breaches:

 

1. ‘Happy Eliminating’《开心消消消》(Version 1.1)

The app on the left (开心消消消) is very similar to another popular gaming app called Happy Elements (开心消消乐).

This gaming app (image on the left), is highly similar to another popular gaming app known as Xiaoxiaole or Happy Elements (开心消消乐) (on the right).

 

2. ‘Digule’《嘀咕乐》(Version 1.0.1)

App screenshots from SnapPea.

This app promises to offer free comics and offline downloads. The app presents itself as being “non-ads interference” on the Android Market.

 

3. ‘Mifeng Yx’《蜜蜂优选》(Version 2.4.2)

This app helps users to get discount from popular online shopping sites such as Tmall and Taobao.

 

4. ‘Yangling Travel’《杨凌旅游》

This is a travel app that offers a wealth of information related to self-guided tours, travel tips, and hotel booking services.

 

The following apps have been labeled as ‘harmful’ for containing malware; their plug-ins and bundles drain users’ cellular data by downloading promotional ads and mobile apps in the background without permission:

 

5. ‘Zhijiao YXY’《职教云学院》(Version 1.0.2)

Zhijiao YXY is an online teaching platform for vocational education.

 

6. ‘Fashion Snap’《时尚快拍》(Version 3.6.72)

Fashion Snap is a beauty camera and photo editor tool.

 

7. ‘Watermark Images’《水印修图》(Version 4.0.91)

This is another photo editor tool featuring photo watermark add-ons.

 

These last three apps were linked with gambling activities by Chinese state media, or have security vulnerabilities making users susceptible to financial losses:

 

8. ‘Cute Puppy Go Home’《萌犬回家》(Version 2.0)

This is an app that matches pets with potential adopters.

 

9. Guess-emoji-challenge (Version 1.1)

As its name indicates, this is a mobile gaming app all about emoji guessing.

 

10. Warehouse Manager《仓库管家》(Version 1.0.1)

This is a warehouse management application.

(Note that we found two additional apps with the exact same name on AppAdvice, both are described as warehouse management applications – so for now, it is not clear which one of the three is the one referred to by Xinhua, and how it is associated with gambling.)

 

In addition to warning Chinese mobile users about the aforementioned versions of the 10 apps, Chinese media also spread the NCVERS’s advise in recommending netizens to use “real-time monitoring” anti-virus apps to help detect malware carried by illegal and harmful apps. 

In response to the report on the harmful apps, SinaTech News launched a poll on Weibo asking people what unwanted side functions mobile apps they dreaded the most.

At the time of writing, a majority (48.7%) of the 77,000 people participating in the poll indicated that “collecting user data without permission” is one of the things they loathe the most.

With China’s Cybersecurity Week kicking off earlier this month, there’s recently been an increased (social) media focus on cybersecurity in China.

This week, Chinese cybersecurity experts warned social media users not to post photos of themselves doing a V-sign gesture, since criminals could possibly abuse their fingerprint data.

The Chinese app Zao also sparked major privacy concerns in China earlier this month. The app, that was released on August 30, allows users to play with face-swapping and “deepfake” effects. There were soon concerns about the app’s questionable privacy policy, which stated it had “free, irrevocable, permanent, transferable, and relicenseable” rights to all user-generated content (also see The Guardian).

By now, the hashtag ‘Ten Lawbreaking & Harmful Apps” (#十款违法有害App#) has received over 130 million views on Weibo.

“This is a time for all of us to be concerned,” one Weibo blogger writes, with others agreeing: “I think all apps are collecting our data nowadays.”

But not all people seem to be so worried: “Weibo, WeChat, and Baidu – I’d say those apps are really harmful! They are harmful because they make me waste so many hours of my day.”

Read more about Chinese apps here.

By Jialing Xie

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

©2019 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com

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China Local News

Online Anger over Inappropriate Toast by Dutch Watch Brand Executive at Chinese Dinner Party

This is how NOT to do a toast in Dutch!

Manya Koetse

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Instead of teaching guests at a Chinese dinner party how to say “cheers” in Dutch, this viral video shows how the Chinese are told to join in saying “dikke lul,” the Dutch expression for “big d*ck.”

The Amsterdam-based watch & jewelry brand Rosefield has recently come under fire within the Chinese community in the Netherlands after a video went viral showing Rosefield’s CEO and its Head of Sourcing proposing an unusual toast at a Chinese dinner party.

The video, that was viewed over 173,000 times on Dutch site Dumpert.nl, shows a woman in a white blouse bringing out a toast, saying:

In Dutch, we say ‘ganbei’ or ‘cheers’ in this way, and it would be nice if you all can say the same, we say: ‘dikke lul.‘”

The people at the table then proceed to toast saying “Dikke lul” – which, in fact, is not the Dutch word for ‘cheers’ but for ‘big dick,’ something that the Chinese people at the table are seemingly not aware of.

On WeChat, Chinese-language newspaper Asian News (华侨新天地) reported about the video and identified the Dutch woman and man at the table as the CPO and CEO of Rosefield Watches, a fast-growing luxury brand that is active in various countries.

Asian News describes the incident as a way of “ridiculing Chinese friends,” and writes it has triggered anger online.

Asian News (华侨新天地) is a Chinese language newspaper founded in 1992. It is mainly distributed in the Netherlands, Belgium, and Germany. Its WeChat account has some 120,200 followers, and the post on the ‘cheers’ video was among its most-well read on WeChat this week.

The blog post noted that ever since the ‘dikke lul’ video has gone viral in the Netherlands, it has become one of the first results showing up when searching for the vulgar expression ‘dikke lul’ on Google.

Although it is not clear where the video was filmed and how it ended up on short video site Dumpert, it is rumored in WeChat groups that it was recorded during the Hong Kong Watch and Clock Fair earlier this month, and that the Chinese guests are business relations of the Dutch brand (unconfirmed).

The comment section on the Dumpert site shows that although some Dutch commenters think the video is funny, there are many who find it “vulgar,” “rude,” and “distasteful.”

Although many (overseas) Chinese expressed anger in various WeChat groups – some expressing regret over a Rosefield watch they recently purchased – the Asia News blog does remind readers that we do not know the context of the video, and whether or not there was a certain pretext or common understanding to the joke.

Nevertheless, the blog states, this kind of behavior is not professional and if a company such as Rosefield wants to earn money in China, “it should also respect Chinese culture and people.”

Although there have been ample discussions about the controversial video on Wechat, there are no online discussions about this issue on Weibo at the time of writing.

Over the past year, many foreign brands became a focus for controversy in China.

In November of 2018, Italian fashion house D&G faced consumer outrage and backlash on Chinese social media for a video that was deemed ‘racist’ to China and for insulting remarks about Chinese people allegedly made by designer Stefano Gabbana.

Swiss investment bank UBS sparked controversy in June for a column which mentioned “Chinese pigs.”

Over this summer, various foreign companies apologized to China for listing ‘Hong Kong’ as a separate country or region on its websites and/or t-shirts.

Still curious about how to actually say ‘cheers’ in Dutch? It’s ‘proost’ and this is how you pronounce it correctly.

By Manya Koetse

Spotted a mistake or want to add something? Please let us know in comments below or email us. Please note that your comment below will need to be manually approved if you’re a first-time poster here.

©2019 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com

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