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Yue-Kong Pao
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Yue-Kong Pao (1918-1991, pinyin: Bao Yugang), also named Qiran, was born in Ningbo, Zhejiang Province. He was the founder of Hong Kong’s World-Wide Shipping Group. Besides, he also served as Honorary Chairman of Ningbo Fellowship Association and Ningbo Hong Kong Fellowship Association and Vice-Chairman of the Hong Kong Basic Law Drafting Committee. He was one of the twelve Chinese magnates in the world with more than US$ 1 billion of assets and a universally acknowledged Chinese shipping magnate. In 1978, Pao’s shipping empire reached its peak and became one of the top ten Hong Kong consortiums. He himself became the No. 1 shipping magnate of the world. Pao founded Hong Kong’s World-Wide Shipping Group. Also, he was the first Chinese chairman of the British-owned Hong Kong and Shanghai Banking Corporation Limited. In 1976, he was knighted by Queen Elizabeth II. Pao had great passion for China. Apart from setting up Zhaolong School, Zhongxing Middle School and Ningbo University in his hometown, he also built the Beijing Zhaolong Hotel, Bao Zhaolong Library and Bao Yugang Library in Shanghai Jiao Tong University and set up Bao Zhaolong and Bao Yugang Scholarships for overseas students.

Different from other shipping magnates, Pao proceeded safely and steadily in his career. His diligence and strong sense of ambition and responsibility won him the reputation of Shipping Magnate of the World. In Hong Kong, Pao’s merchant shipping fleets exceeded a tonnage of 4.5 million, only second to the United States. Thus, Hong Kong became one of the world's shipping centers. These achievements were inseparable from Pao’s contribution to the shipping industry. Due to his position in the international shipping industry, he received much attention and appreciation from heads of state and entrepreneurs. He was knighted by Queen Elizabeth II and received many high-level medals from King of Belgium, President of Panama, President of Brazil and the Japanese Emperor. He was the only businessman in the world to receive such great honor. Former British Prime Minister Edward Heath once specially invited him to dinner in his villa and asked about his business methods in details. In 1981, Sir Yue-Kong Pao was invited as a guest to attend the inauguration of US President Ronald Reagan. What's more, he could make telephone calls directly to the White House and talk to the US president.
Despite that, he was a plain and modest person. He never allowed himself and his relatives to live an extravagant life. On September 23, 1991, Sir Yue-Kong Pao died of illness in his home at the age of 73. His death caused a huge stir in the world and marked the end of an era.

 

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