Chapter 303: Museum Construction and a New Strategic Partnership
"That's excellent news," Yang Wendong said with genuine delight, then asked, "And what about the land we requested?"
Governor Robert Black replied, "We can allocate a plot of 50,000 square feet for you. The land will be classified for public use, at a rate of 150 Hong Kong dollars per square foot. This will be Phase I of the museum."
"And what about Phase II?" Yang Wendong asked calmly.
The suggestion from mainland experts had always been to build the museum in two phases, each comprising 50,000 square feet. This was to allow room for gradual cooperation expansion and also because Hong Kong's current population and economic level didn't yet justify a massive museum all at once.
Governor Robert Black replied, "For now, we'll reserve the adjacent plot. We won't be allocating it to anyone else in the short term. If Phase I of your project proves insufficient for public demand, we'll approve Phase II accordingly.
However, I must tell you, by then the pricing might change. But since it will still be designated for public facilities, the cost won't be unreasonable."
Yang Wendong thought for a moment and then said, "Governor, is there any chance the 150 HKD per square foot price could be lowered a bit?"
Governor Robert Black shook his head. "Mr. Yang, you're one of Hong Kong's most renowned property developers. You probably understand the land pricing better than I do. At current Central district prices, if that plot were zoned for commercial use, it would start at no less than 800 per square foot."
Yang Wendong smiled faintly and replied, "That's true, but after all, this isn't for commercial use. The returns on public projects are nowhere near those of regular commercial properties."
A museum, while it could charge admission, would never generate profits on the same scale as a five-star hotel or an office complex. Plus, its operational costs were significantly higher.
Governor Robert Black added, "Mr. Yang, I've been working on this project for quite some time already. There's really no room to lower the price further. Besides, that's an excellent location."
"Very well then. Thank you, Governor." After a moment's thought, Yang Wendong agreed. Then he said, "Once the land is approved, we'll begin construction on the museum as soon as possible. I'll ensure that it's completed and open by the end of next year. When that time comes, I hope you'll attend the opening ceremony."
Governor Robert Black nodded. "Of course. I would like to leave behind a legacy in Hong Kong before my tenure ends—and a major historical museum would be a perfect part of that."
"Understood," Yang Wendong said. "The museum will also include sections that document your contributions, so future generations will be able to look back and understand the history."
This museum represented a milestone in Yang Wendong's relationship with the Governor. By giving Governor Robert Black a chance to be remembered, he was able to secure a fair and legally clean transaction.
This was the highest form of political-business cooperation—far superior to crude bribery. Even when it came down to monetary interests, there were always legitimate channels to handle such things.
"Haha, thank you very much, Mr. Yang," Governor Robert Black said with a light smile.
Having your name enshrined in a city's museum was a source of pride for any official—even high-ranking British politicians would have trouble achieving such recognition.
These kinds of opportunities often came down to timing, luck, and personal connections.
"No need to thank me," Yang Wendong replied courteously.
Governor Robert Black said, "This matter will be made public very soon. You may begin preparing accordingly."
"No problem," Yang Wendong nodded.
The Governor then added, "Since this is a public project, you're eligible to apply for a preferential government loan—through HSBC. I've already spoken to Saunders. You can go directly to him."
"Excellent." Yang Wendong's eyes lit up. "Thank you very much, Governor."
After returning from Government House, Yang Wendong immediately summoned Zheng Zhijie and briefed him on the matter.
After hearing the news, Zheng Zhijie said, "You can rest assured, Mr. Yang. I had already instructed I. M. Pei to begin designing the museum two months ago. The drafts should be ready soon. Once the design is finalized, we can begin construction."
Yang Wendong nodded. "Good. I estimate the land will be officially transferred to us within two weeks. Apart from the design, make sure the construction team is also ready."
"Understood," Zheng Zhijie replied.
Yang Wendong asked, "If I remember correctly, didn't Changxing Real Estate already purchase properties near that area?"
"Yes," said Zheng Zhijie. "As soon as the mainland team selected the location, I arranged for acquisitions. Even if the land hadn't been approved, we still wouldn't have lost money."
"Good." Yang Wendong was satisfied. "Now let's just wait for the government's procedures to go through."
This project was finally nearing a conclusion. Once the land deed was in hand and the permit was approved, the rest was practically guaranteed. Any remaining issues regarding future collaboration would be minor by comparison.
Most importantly, he was about to build the largest museum in Hong Kong, one that could potentially house unique artifacts. It was a collaborative effort involving the Governor and the mainland—a win on all fronts.
The next day, Yang Wendong visited the headquarters of HSBC in the iconic tower.
"Mr. Saunders," Yang Wendong greeted respectfully.
In the 1960s, the chairmen of HSBC and Jardine Matheson wielded as much influence in Hong Kong as the Governor himself.
While their official authority wasn't as absolute, the Governor was still a civil servant, bound by many restrictions. Business tycoons, on the other hand, had far more freedom.
Saunders greeted him with a smile. "Mr. Yang, it hasn't been that long, and already you're stirring things up again—a museum, no less?"
Yang Wendong responded, "While the museum project does have some business benefits, it's not solely about profit. Hong Kong is developing rapidly, and a city like this deserves a major museum to reflect its cultural depth."
"Quite right. Hong Kong certainly needs a museum," Saunders nodded. "So you're here today about the loan for it?"
"Yes." Yang Wendong nodded. "The Governor likely mentioned that the land is not commercially zoned, so the cost isn't too high. The economic investment is relatively moderate.
The museum will be able to sustain its operations through ticket sales and other revenue streams, making it capable of repaying the loan."
The land price was expected to be around HK$7.5 million, give or take. Adding in the costs of foundation work, construction, and equipment, the total investment would be just over HK$10 million.
Yang Wendong could cover that amount himself, but in Hong Kong, relying solely on personal funds for major projects would be foolish—especially for public infrastructure.
Saunders nodded. "I understand. Since it's a public project, we'll offer you a low-interest loan. The museum itself will serve as collateral."
As Hong Kong's "quasi-central bank," HSBC enjoyed substantial commercial privileges, but in return, it also bore public responsibilities—such as stabilizing the financial market and funding public facilities—often at reduced rates.
"Excellent." Yang Wendong smiled. "One more thing: The cargo ships I ordered from Japan last year—the first one is almost complete, and the rest are progressing well. All of them have already been successfully leased out.
So I'm planning to move forward with a second round of ship purchases. I'll need HSBC's cooperation for that."
In the 1950s and 60s, most Hong Kong shipowners didn't run their own vessels. They simply leased them out, especially to major Japanese firms, trading companies, and shipping corporations. These companies preferred leasing over ownership.
That leasing model was one of the reasons Hong Kong's shipping industry rose to global prominence—once you bought a ship, you could practically guarantee a rental contract.
Now that Changxing Shipping had expanded significantly, Japanese firms had begun approaching them for partnerships, leasing both existing and future ships. With shipping demand outpacing supply, owning a vessel all but guaranteed business.
Of course, leasing a ship wasn't as effortless as leasing a house. While Japanese companies paid the rent, operations still had to be managed by the owner. The Japanese just paid and arranged the routes—the shipowner ran the logistics.
Saunders laughed. "That's no problem at all. HSBC is very interested in participating in Hong Kong's maritime business."
"Great. Once I've finalized negotiations with the Japanese shipyards and banks, I'll come back to discuss the financing details with you," Yang Wendong said with a nod.After Saunders took office, HSBC began actively collaborating with Chinese-owned businesses and shipping companies. This was because Saunders was optimistic about the future of Chinese capital in Hong Kong and the global maritime market.
Thanks to this strategic vision, HSBC experienced rapid growth throughout the 1960s. Its scale expanded significantly, laying the groundwork for its eventual transformation into a global bank under the leadership of Sir Michael Sandberg in the following years.
After all, commercial loans to Chinese capital and shipping companies came with interest rates that were far from low.
"No problem," Saunders nodded, then asked, "Mr. Yang, are you planning to buy more cargo ships this time?"
Yang Wendong replied, "This round of new ship orders isn't for standard cargo ships. I'm looking at large bulk carriers and large oil tankers—something in the 50,000 to 100,000-ton class."
Once the Middle East crisis erupted, every kind of ship could make serious money—but large oil tankers and bulk carriers were particularly lucrative. The larger the ship, the stronger its freight capacity, and these two types handled relatively simple goods, easy to load and unload.
In contrast, general cargo ships had lower tonnage and required long stays at port for loading and unloading. Once the Middle East crisis hit, ports would become more congested, making delays even more costly. In critical times, lost time meant lost profits.
And soon, a new era would dawn: the containerization era. In a few years, it would begin to take hold. Buying new general cargo ships now wouldn't necessarily lead to losses, but the profit margin would shrink. That's why Yang Wendong planned to stick with second-hand ships for now—by the time containerization became mainstream, these older ships would be ready for scrap anyway.
Saunders smiled. "Well then, let me first congratulate you on the rapid growth of your enterprise. It seems that ten years from now, you may become one of Hong Kong's great shipping tycoons."
"No—I intend to become a world-class shipping tycoon," Yang Wendong replied with a faint smile.
In front of British elites, one had to be just a bit arrogant. Only then would they take you seriously in business.
"Haha, good." Saunders laughed. "Bao Yugang has similar ambitions. If both of you become world-class shipowners, that will be a major victory for Hong Kong."
"I'm sure Mr. Bao will achieve it as well," Yang Wendong nodded.
Ten years later, Hong Kong would indeed be home to numerous shipping tycoons. Even without Yang Wendong, historically there had already been four prominent ones, with three making it into the global top ten.
That alone spoke volumes about the strength of Chinese businesses. Despite all external factors—and despite British capital's dominance early on—it was Chinese shipping companies that rose during the golden age of global shipping.
On October 22, the Hong Kong government officially announced the construction of a large-scale historical museum, located at 19 Hung Kam Road, Central. The site would span 50,000 square feet and be classified as public-use land. The total price: HK$7.53 million.
The project would be wholly owned by Changxing Real Estate and, once completed, would serve Hong Kong's three million residents.
Because the land had been specially approved, there was no competition for it. The process was straightforward: public announcement, a waiting period for objections. If none were reasonable, the project would be cleared to proceed.
The news was picked up immediately by all major newspapers in Hong Kong.
"A museum? And it'll house artifacts from the mainland?" one man chuckled as he read the paper. "Looks like we'll be able to view cultural relics right here in Hong Kong from now on."
"Yeah, I've always been fascinated by ancient Chinese calligraphy and paintings," a woman said. "I'd love to see original works by Li Bai, Du Fu, or Qu Yuan."
"In your dreams! You think those kinds of artifacts would ever make it to Hong Kong?"
"Not necessarily. The article says the mainland will lease certain items. You never know."
"I want to see a mummy. I wonder if they can lease one. I'm not going to Egypt—it's too far and dangerous."
More and more people who read the news began animated discussions.
That same afternoon, I. M. Pei arrived at Yang Wendong's office to present his museum design.
"Mr. Yang," Pei began, "the museum will have five floors above ground and two below. The total construction area is 220,000 square feet. It will feature 17 exhibition zones, each suited for different types of artifacts.
The entire facility will include state-of-the-art temperature and humidity controls to meet various preservation requirements."
M. Pei went through the blueprints, carefully explaining each feature.
Yang Wendong listened attentively. While he didn't understand every technical term, he had visited many mainland museums in his past life and had a fair grasp of how they operated.
Once the presentation was over, Yang Wendong asked, "How long will the construction take?"
"About a year—13 months at most," I. M. Pei replied. "This estimate comes from my discussions with Gammon Construction Group. Workers will rotate shifts to keep the site active 24/7 to maintain progress."
"Good. Do your best to shorten the timeline without compromising quality. If the project is completed ahead of schedule, I'll arrange a bonus for every worker involved," Yang Wendong said with a nod.
This was part of his deal with the Governor—it couldn't afford delays.
Pei nodded. "Understood. I'll discuss the reward structure with Gammon Construction."
"There are a few more points," Yang Wendong said as he reviewed the blueprint again, raising some personal suggestions and concerns.
The next day, two more visitors arrived at Changxing Tower.
"Mr. Huo, Mr. Ding," Yang Wendong said with a warm smile. "Please, have a seat. Would you like something to drink?"
"Anything's fine. Tea or even just plain water," Huo Yingdong said as he sat down.
"Let's have tea," Yang Wendong said to his assistant. After all, serving plain water would be too plain for guests of this stature.
The assistant left, and Yang Wendong continued, "Gentlemen, the government has officially approved all administrative procedures for the museum. The land transaction is complete, and construction will begin soon. That means our collaboration is now officially underway."
While the three had already discussed many details before, it had all been tentative. Nothing could move forward until the museum project was fully greenlit.
"No problem. We're ready to cooperate fully," Ding Kejian said. "On the mainland, we also hope the Chinese people in Hong Kong will gain a deeper understanding of their own nation's history."
"Excellent. Then everything's in order," Yang Wendong said. "Construction should be completed around this time next year. That's when we'll begin working on the artifact collaboration."
He wasn't Zhao Congyan—he had no interest in building a private vault for ancient treasures. All collaborations would be based on the museum's infrastructure. Once it was complete, it would house everything.
"Understood," Ding Kejian said.
Huo Yingdong then asked, "Is it possible for us to take a look at the design for the museum?"
"Of course," Yang Wendong nodded and retrieved a blueprint from a nearby shelf. "This is a copy of the design by architect I. M. Pei. The entire structure…"
He gave them a brief overview.
After listening, Huo Yingdong praised, "This museum is even larger than the ones we have on the mainland."
Yang Wendong smiled. "It needs to be. I'm very optimistic about Hong Kong's future, and I believe we'll need more space to house more artifacts and host more visitors, while also ensuring proper preservation."
Land in Hong Kong was expensive. Getting large plots in prime locations was nearly impossible—even with public project approval, the government wouldn't hand them over without reason. If you had some justification and personal connections, maybe you could get a good deal—but go too far and it'd be a no-go.
That's why the plan had always been to build vertically. I. M. Pei had designed the museum based on this very requirement.
Huo Yingdong nodded. "That makes sense. This way, you can display even more artifacts. China's civilization spans thousands of years—there are countless treasures to showcase."
"Indeed," Yang Wendong agreed.
In the future, even major museums in the mainland would struggle to display their full collections. One of Shanghai's key museums, for instance, would eventually span over 110,000 square meters.
At that moment, Ding Kejian spoke up. "Mr. Yang, we actually came today to discuss something else as well. China Resources Group would like to pursue deeper cooperation with Carrefour."
"Oh?" Yang Wendong asked. "What kind of cooperation do you have in mind?"
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