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Pao Yu-Kang

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Adapted from Wikipedia, available under CC BY-SA 4.0Updated 2 July 20252 sources

Sir Yue‑kong Pao CBE, JP (Sir Yue‑kong Pao; 16 November 1918 – 23 September 1991) was a shipping tycoon originally from Zhenhai, Ningbo, Zhejiang Province. He founded the World-Wide Shipping Group (formerly Hutchison Whampoa Shipping) and was one of the world’s leading “Ocean Kings.” A direct descendant of Song dynasty official Bao Zheng, Pao was Hong Kong’s richest man during the 1970s and 1980s.

Early life

Yue‑kong Pao was born in Zhongbao Village, Zhuangshi Township, Zhenhai County. He attended Ye’s Charity School and at age 13 enrolled at the Wusong Merchant Marine School in Shanghai.[1] After completing secondary education in 1931, he moved to Hankou to work with his father in trading and later joined a British insurance agency. In 1938 he began working for the Central Trust of China in Shanghai. By 1945 he was branch manager and then deputy general manager of a major Shanghai bank. Following the Communist takeover of Shanghai, Pao relocated to Hong Kong in spring 1949 and established World-Wide Shipping.

Career milestones

  • 1963: Naturalised British citizen[2]
  • Mid-1960s: Expanded into oil transportation, partnering with Shell, Exxon and BP
  • 1977: Fleet surpassed 1.377 million deadweight tonnes, earning the title “World’s Greatest Shipowner”
  • 1978: Knighted by Queen Elizabeth II; awarded Japan’s Third Class Order of the Rising Sun and honorary citizenships of Hakodate, Osaka and Sasebo; appointed Justice of the Peace
  • 1980: Acquired Wheelock & Company; first Chinese director at Hong Kong and Shanghai Banking Corporation and vice‑chairman of Standard Chartered
  • 1980 March: Co-founded China‑foreign joint venture International United Ship Investment Company, the first post‑reform‑opening maritime joint venture
  • 1981: Donated US$10 million to build Zhaolong Hotel in Beijing; name inscribed by Deng Xiaoping
  • 1985: Partnered to acquire Wharf Holdings and co‑founded Dragonair
  • 1986: Established the Sino‑British Friendship Scholarships with Prime Minister Margaret Thatcher
  • Late 1980s: Served as Vice‑Chairman of the Hong Kong Basic Law Drafting Committee
  • 1991 September 23: Died in sleep, aged 72

Legacy

  • Ningbo Merchants Culture Park: Statue of Deng Xiaoping and Sir Yue‑kong Pao
  • Libraries at Shanghai Jiao Tong University, Ningbo University (two pavilions), the Hong Kong Polytechnic University
  • Pao Hall at Purdue University’s Hall of Visual and Performing Arts
  • Zhaolong Hotel, Beijing
  • Sir Yue‑Kong Pao Cancer Centre at Prince of Wales Hospital, Sha Tin
  • Sir Yue‑Kong Pao Gallery, Hong Kong Arts Centre
  • Pacific Place pool in Wong Chuk Hang (Sir Yue‑Kong Pao Swimming Pool)
  • Hangzhou Huanglong Sports Centre pool

Personal

  • Married Wong Sau‑ying
  • Four daughters: Pao Pui‑hing (married Dr Su Hai‑man), Pao Pui‑yung (married Wu Kwong‑ching), Pao Pui‑lai (married Wat Nobu‑ichiro), Pao Pui‑wai (married Dr Cheng Wai‑kin; later divorced)

Quotes

  • “He was Hong Kong’s first truly international businessman.” — Asia Week
  • “Although I started shipping before you, compared to you I am but a peanut.” — Aristotle Onassis, 1974

References

  1. ↑ https://zh.wikipedia.org/wiki/%E5%8C%85%E7%8E%89%E5%89%9B#cite_ref-%E9%A6%99%E6%B8%AF%E8%8B%B1%E5%82%91%E9%A2%A8%E9%87%87P3031_3-0
  2. ↑ http://discovery.nationalarchives.gov.uk/details/r/C16419250

Further reading

  • Yang Yaojian (2007). “Sir Yue‑kong Pao, the Ocean King,” in _Youth Digest_. China Youth Press. ISBN 978-7-5006-6471-0.

See also

  • Ningbo Merchants
  • Pao family

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ZZhang YouxingQQi DezunGGong HongjiaLLi Zhenguo
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