Vincent Lo's Career Shows What It Takes For An Out

SIPPING tea in his penthouse office with sweeping views of Hong Kong harbour, Vincent Lo does non match the sort who spends too much time roughing it in mainland China. The 56-year-olds impeccably cut Mao-collared Blanc de Chine suit and designer haircut disguise a man who spends three days a week alerting between grimy cement plants and building sites in demented Chinese cities. Yet over the past two decades, with a relatively modest outlay of $1.5 billion, the chairman of the Shui On sort has turned his building-materials and face firm into one of the most consistently succeederful foreign investors in China. When it comes to parlaying social connections into business opportunities hardly a(prenominal)er thunder mug match Mr Lo. His avowed desire is to contribute to Chinas success and not just his own profits. This has earned him the trust of more of Chinas electand a nickname: the king of guanxi [connections]. How he reinforced his empire says much about the r ealities of doing business in China. That Mr Lo was the password of a successful Hong Kong property tycoon helped only indirectly. unvoluntary to colligation the family firm, he was roughthing of a black sheep. His mother had to request her maintain to lend their son HK$100,000 ($16,700) to start a company.

horrendous to hear himself, he took risks: going into Shanghai in 1984 when few others dared. Mr Lo built a hotel with the citys Communist youth League. It opened as students rioted in Tiananmen Square, occupancy plunged and the league could not repay its construction loan. I helped out, says Mr Lo. T heyve never forgotten. Relationships are lon! g term here. hotshot of those who remembered was Han Zheng, the Youth League secretary and now mayor of Shanghai. on with Xu Kuangdi, a former Shanghai mayor with whom Mr Lo established some of the original business links between Hong Kong and Shanghai, the pair helped Mr Lo boost his biggest coup. This was the undecomposed to develop a piece of land skirt the consecrated hall where the Chinese...If you want to get a rise essay, prepare it on our website: OrderCustomPaper.com

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