Category: Money tips Release Date: 2006-06-28
Jung first generation of pioneering work
Jung the second generation of alternative transmission
Jung third-generation skipped-generation entrepreneurs
Jung fourth generation of profound knowledge
History does not recognize the assumptions! However, while the assumption is not history, but assume that the creation of ideas.
History rewritten by the Jung family's destiny, Rong family stretches more than 100 years, "Fu-off for four generations," a reality.
If the wing is not a result of the second generation of family changes and the occurrence of alternative transmission of the times, there will be the third generation of inter-generational business do?
Son is not Chuanxian, is a lot of family and the decline by Sheng reasons. But do not Chuanxian son, but also how much the bane of family strife. Every family eager to pass, "Yin child", but Andrew how a "Katako" has become a major historical problems.
As a practical choice, not the best choice, in order to pass a patriarchal lineage to patriarchal and stabilize the internal strife, civil strife fiercer than a tiger because it may lead to an instant collapse of the family Foundation. While this ultimate price is "gradually decline," but at least Gouyan, at least ZTE hope. Of successive Chinese dynasties than this, the Fa-exactly the same with the patriarchal clan system.
November 11, 2005, for Shijiazhuang Iron & Steel Co., Ltd. (hereinafter referred to as "Stone Steel"), chairman of Yansheng Division, bustle than half a year he could finally take a breather. On this day, CITIC Pacific (HK 0267) and the Hebei Province and Hebei Zhong Fu SASAC entered into equity transfer and capital increase agreement, CITIC Pacific to 1.282 billion yuan to acquire Shijiazhuang Iron and Steel, Hebei SASAC existing registered capital of 80% and subscribe for new registration capital of 196 million. Transfer and capital increase is completed, CITIC Pacific will hold a stone steel 65% of the enlarged share capital, while holding 15% of Hebei Province is rich in public management, led by Yan Sheng Branch holding company.
CITIC Pacific in Larry Yung Chi Kin Furthermore, under the leadership of the next city, to continue the field of specialty steel layout, this time he is the heady beat of Jiaxin holding. Not long before, CITIC Pacific has acquired a new rule of Steel in Hubei Province, thereby holding Daye Special Steel (SZ 000708). CITIC Pacific Special Steel to become the focus of investment in recent years, the operation is still Larry Yung Chi Kin usual way acquisition.
In the previous two weeks, for Larry Yung Chi Kin Jung and the whole family, a prominent speaking, an event took place. October 26, Larry Yung Chi Kin's father, the Jung family's iconic figure Rong died at the age of 89. To give a high evaluation of the Central Rong, saying the famous "red capitalists" as "a great patriot, communist fighter." At home and abroad have reported similar kinds of media content, showing that the death of old Mr. Wing is a national event, but in his family house, but it did not happen, like many other families as varying degrees of confusion.
Just after the reform and opening up began to take over first-generation entrepreneurs, inheritance problems like anxiety, all walks of life are also discussing how to "wealth for three generations," the occasion of the Jung family had been stretching for over 100 years, even from the big capitalists-rong Germany Health (Rong's father) brother that generation date, to the early years of the fourth generation of Carl Yung Ming Jie (Larry Yung Chi Kin's son). "Rich had four generations," is a reality.
Of course, the Jung family's "rich over four generations," and the traditional Chinese family heritage varies greatly, with a lot of alternative colors. Perhaps because of this, "Fu-off four-generation" was able to achieve.
CITIC's richest man and his son butt
No doubt more familiar with the Mainland has been appointed Vice President Rong, but only in recent years by a variety of rich list goes on Larry Yung Chi Kin began to familiar faces. In fact, the reputation of Hong Kong Larry Yung Chi Kin is more sound than the father, but as early as the end of 1995 the consortium was listed as the eighth top ten Hong Kong, and now the name of his first known as the "richest man in mainland China."
The richest man, was born in wealthy homes, when the 36-year-old start a business, but their wealth in no way slow pace. In addition to its business his father had given the initial start-up capital, in its current major source of wealth of CITIC Pacific, he was not even the largest shareholder (the largest shareholder of CITIC Group, a subsidiary of CITIC Hong Kong);, and although CITIC Group Vice President single-handedly created, but so far it is the standard state-owned enterprise, property rights is not associated with the Jung family.
June 1986 15 ~ 18, Jung five generations of relatives overseas, more than 200 people and relatives in more than 20 people gathered in Beijing. Later, CITIC Group has successfully developed the International Building, the unit has also commenced a capital building. At this point, Larry Yung Chi Kin is in Hong Kong alone to conduct real estate transactions, and its joining CITIC matter has been inklings.
Larry Yung Chi Kin to joining CITIC Hong Kong companies, in May 1985 formally, but the initial business development is not satisfactory, the investment direction of the headquarters of CITIC also has a different view. Larry Yung Chi alive business dealings with CITIC Hong Kong from time to time, and once, he helps his father's work from the start, he CITIC Hong Kong's investment to highlight their view that efforts should focus on investment in infrastructure, such as engaging in Hong Kong's Eastern Harbor Crossing .
CITIC Group, after some people came forward to invite Larry Yung Chi Kin investment and planning work to do, but he laughed and said: "I would also busy promoting their own real estate yet." Into the second half of 1986, the Hong Kong real estate market had modest gains CITIC Group issued another invitation to join, Larry Yung Chi Kin officially appointed Vice Chairman and Managing Director of CITIC Hong Kong, this time for the former Vice Chairman of the eldest son of Wang Zhen Wang.
Before assuming office, Larry Yung Chi Kin to his father made two conditions: "First, the company's personnel system must be for me to decide; secondly, to give me considerable power." Rong asked why, he replied: "Everything are required to consult on is not conducive to work. "After the study by the Board of Directors, CITIC Group has decided to accept his terms.
In February 1987, CITIC Hong Kong's restructuring, its the first serve as chairman and general manager of meters Guojun, Wang retired, from Larry Yung Chi Kin became the CITIC Hong Kong's key decision-makers. Larry Yung Chi Kin For the CITIC Hong Kong's development and planning has long been contemplating, and his first step is to make a large number of small and medium enterprises from Hong Kong to stand out, and decided to adopt the merger of the method to achieve such a breakthrough.
The acquisition by CITIC Hong Kong into a giant
Larry Yung Chi Kin took aim first goal is Hong Kong's premier English-owned Cathay Pacific Airways (large shareholder Swire Pacific). This acquisition proposal has been m Guojun opposition in persuading m after the Board of Directors also believe that risk is too high given a negative response. Larry Yung Chi Kin feel sad because he has been going on before more than six months of investigation, analysis, research, it is feasible.
Larry Yung Chi Kin Left, the report back to Beijing to find his father, Rong After listening to him to write two reports, one to the CITIC Group, one to the State Council departments. This proposal finally agreed to, and specialized lending departments of CITIC HK 8 billion to make the acquisition of funds. In February 1987, CITIC Hong Kong with 23 billion acquisition of 12.5% stake in Cathay Pacific Airways to become its third largest shareholder. This battle, not only played the CITIC Hong Kong's power and prestige, but also enhanced the Larry Yung alive authoritative status within the company.
Next, by Larry Yung Chi Kin fancy is that Hong Kong Telecom, its largest shareholder Naishi a large British-owned Cable & Wireless. June 5, 1989, Hong Kong's Hang Seng index tumbled 581 points or 21.57 percent, to October 1987, "87 crash" after the second-largest decline in history. Company relocation wind malpractice, Hong Kong Telecom shareholders, as stock prices plummeted and the future unpredictable and high anxiety. Larry Yung Chi Kin was chance. In the end, CITIC Hong Kong in 1990, spent 10.3 billion dollar takeover of HKT 20% of the shares to become its second largest shareholder. The acquisition by the British, "the world's financial" magazine as the world's best financing projects that year.
Although the acquisition received good results, but Larry Yung Chi Kin's failure to consult the State Council department in charge of the practice of reporting on senior leaders in Beijing, attracted criticism. Afterwards, Rong's friends when he was general manager of CITIC Group, Xu Zhaolong assist in its writing, "petitioned the table" indicating what the whole story. Nevertheless, there are people am alleged that Jung his son to help the British pulled out of funds before the reunification. Finally, Deng Xiaoping and Yang Shangkun come forward to show that supportive attitude, be considered to quell disturbances.
