HSBC Bank.
In the lounge, Li JiaCheng sat deep in thought, wondering why HSBC's taipan, Shen Zhou, had invited him for a meeting.
HSBC was Hong Kong's largest bank. As a businessman, Li had naturally dealt with HSBC before, and had met Shen Zhou, though not often — usually only when seeking financial support.
Thus, Li wasn't very familiar with Shen, though he wished to build ties. Shen's sudden invitation left him curious about the reason.
"Mr. Li, the taipan will see you now," Shen's secretary said, entering.
"Thank you," Li replied, following the secretary to Shen's office.
Seeing Li enter, Shen smiled and walked over: "Mr. Li, apologies. I was busy just now and kept you waiting."
"Not at all, Taipan. I had nothing pressing," Li said respectfully, clasping Shen's hand with both of his.
They sat on the sofa, and the secretary served Li a coffee.
After some polite small talk, Shen asked: "Mr. Li, what are your views on Hong Kong's future economic development?"
Though unsure why Shen asked, Li carefully replied: "I'm optimistic about Hong Kong's economic future. As the economy grows, incomes will rise. But Hong Kong is small and densely populated, so real estate will thrive. I believe property development will be key, and Cheung Kong Industries is focusing on it."
Shen nodded, then pressed further: "And what is your basis for this optimism? Surely you have reasons."
Li glanced at Shen, unable to read him, then said: "The mainland has ended a decade of turmoil. Political and economic conditions have changed, strengthening ties with Hong Kong. This benefits Hong Kong's prosperity. Unless the mainland's situation changes again, I believe Hong Kong's economy will grow."
Shen agreed, then asked: "Do you think the mainland's political and economic situation might change again?"
"Taipan, how could I know that?" Li smiled wryly. Even as a billionaire, he couldn't predict the course of such a vast country.
Shen wasn't surprised. He looked at Li seriously: "Then, Mr. Li, if the mainland invited Hong Kong's business elites to invest there, what would you do? Would you invest heavily?"
Li was about to answer, but paused, realizing the weight of the question. This was Shen Zhou, HSBC's taipan. HSBC was Hong Kong's largest bank, and Hong Kong was still a British colony. The question was not mere curiosity.
Shen waited patiently, already sensing the answer. Before him sat a true capitalist.
After a moment, Li said solemnly: "I would invest in the mainland. Its huge population means a vast market. If it continues economic development, returns will be great. But I wouldn't invest heavily, nor risk my entire fortune. I fear political or economic shifts could make capitalists unwelcome, even confiscating our assets."
Li spoke honestly, neither pretending patriotism nor tailoring his words to Shen.
"Exactly!" Shen thought, smiling inwardly. Li was the kind of Chinese capitalist he sought. Unlike Lin BaoCheng — young, suddenly rich, naïve about mainland politics, and inclined to embrace it — Li was cautious. Shen had tried to recruit Lin, believing cooperation would benefit both, but Lin refused. Shen then turned to Li, who proved to be the archetypal capitalist.
"Mr. Li, HSBC wishes to cooperate with you. We'll first provide HK$100 million in unsecured, low‑interest loans. In future, all your financing with HSBC will have the best terms. With our support and your skill, you'll surely achieve great success in Hong Kong."
"Thank you, Taipan, and HSBC, for your support," Li said, suppressing his excitement. Then he asked: "Taipan, surely HSBC's support comes with conditions?" He wasn't foolish. Benefits never came without strings attached.
"Of course. Listen," Shen said, nodding with satisfaction at Li's composure.
He laid out HSBC's conditions — stricter than those offered to Lin BaoCheng. Lin's wealth was greater, so his terms had been better. Li's were tougher.
Some conditions were easy: exclusive cooperation with HSBC, no founding his own bank. Li could agree without hesitation.
Others required thought: once his assets reached HK$50 billion, he must invest in Britain, with at least 10% of his wealth there.
There were other difficult conditions, though none impossible. Had HSBC demanded Li adopt a fully pro‑British political stance against the mainland, he would have reconsidered.
After discussion, some terms were softened, and Li agreed to cooperate. For him, though his fortune was modest now, with HSBC's backing he believed he could one day exceed HK$10 billion. He wouldn't refuse such support.
Many of HSBC's conditions only mattered once Li reached hundreds of billions. Until then, they were irrelevant. To him, it felt like a pie falling from the sky — and he intended to eat it.