Wu Yisun
Ng Yee-sun (born 1900 – died May 11, 2005), was a native of Shuangfengfang, Gulang Village, Xingtan Town, Shunde, Guangdong Province. He was a member of the prominent Ng Yee-sun family in Hong Kong and the founder of Wing Lung Bank.
Biography
Ng Yee-sun began working at the age of 19. In 1919, he came to British Hong Kong and worked at Tai Lai Money Exchange, operated by Shanghainese. Later, he joined Yu Yan Money Exchange. Due to his diligence and competence, he gained the appreciation of his superiors and was frequently promoted. At the age of 20, he became the right-hand man of his boss, Ng Kai-ming. When another firm tried to recruit Ng Yee-sun, his boss instead encouraged him to start his own business. Thus, Ng Yee-sun raised funds and established Wing Lung Money Exchange.
Ng's grandfather, Mr. Ng Yee-hong, had earlier set up Chiu Lung Money Exchange in Guangzhou, which became widely known. However, due to war and natural disasters, the family's fortunes declined. Ng Yee-sun experienced a harsh childhood. Despite his intelligence, he could not afford education due to poverty and began working at the Tai Lai Money Exchange in Hong Kong at the age of 14. Without any family background or support, he started as a menial worker. Through dedication and humility, he honed his skills in tough conditions. He remained diligent and humble, learning business practices through routine tasks. His abilities earned him the mentorship of Ng Kai-ming, becoming his assistant at just 20 years old.
In 1933, with the trust and support of friends, he raised 44,500 dollars and on February 25 of that year, founded Wing Lung Money Exchange on Man Wa East Street, Sheung Wan, Hong Kong. The business earned over 9,000 dollars in profit in its first year. In the early 1930s, the Yuehan Railway opened, and Ng foresaw Hong Kong’s future as a trade hub due to improved transport. He hired instructors to teach his staff Mandarin. After the outbreak of the Second Sino-Japanese War in 1937, many merchants from various provinces came to Hong Kong. Because Wing Lung Bank staff could speak Mandarin, it attracted a large number of clients from across China, significantly boosting its business.
In the following decades, Ng Yee-sun operated by the principles of “growth with stability, service with integrity.” Despite facing the Sino-Japanese War, Chinese Civil War, and several bank runs in Hong Kong, Wing Lung Bank remained stable and continued expanding. It was incorporated as a limited company in 1956 with Ng as chairman, renamed a bank in 1960, and went public in 1980. After over 60 years of development, Wing Lung Bank stood firm in Hong Kong’s competitive financial sector. By 1997, it had 34 branches across Hong Kong and Kowloon and a representative office in Guangzhou, as well as branches in the United States and Cayman Islands. In addition to conventional banking services, the bank also offered insurance, trust, credit cards, corporate loans, securities and futures trading, foreign exchange, stock margin trading, syndicated loans, and mutual fund distribution, becoming a powerful and internationally recognized Chinese bank.
Ng was also a devoted bonsai enthusiast. Guided by his grandfather Ng Yee-hong (founder of Lingnan school of bonsai) and father Ng Yeuk-yue, he mastered the art of bonsai through years of practice, becoming known as the “Bonsai Sage.”
Ng was also devoted to philanthropy. His donations extended across mainland China. In Hong Kong, he established the Ng Yee-sun Charitable Foundation, contributing to the construction of hospitals, elderly homes, secondary and primary schools.
In 1997, with approval from the International Minor Planet Center, the Chinese Academy of Sciences’ Purple Mountain Observatory named asteroid No. 3570 “Ng Yee-sun Star” in recognition of his contributions to society, charity, education, culture, and the arts.
Ng Yee-sun passed away in Hong Kong on May 11, 2005, at the age of 105.
See Also
- Ng Yee-sun Family