The colony where millionaires are commonplace

Press, 13 October 1982, Page 18

The colony where millionaires are commonplace

Hong Kong was founded on the buccaneering principle, relentless dedication to the pursuit of wealth, according to a 8.8. C. documentary, “Hong Kong Venture,” which will be screened on One on Friday, at 10 p.m. In the British Crown Colony of Hong Kong at least 1000 men are worth more than £lOO million; it costs £ 1000 a month to rent a medium sized flat; houses change hands for £1 million and there are four stock exchanges. 400 Rolls-Royces, 11,000 Mercedes — and they still want more. Fortunes are made overnight in this bustling British colony where millionaires are commonplace. The prosperity was started

by a couple of dedicated Scottish opium runners who established Jardine Matheson — now a multinational company with 230 separate enterprises and 50,000 employees. David Newbigging, known locally as the Princely Hong, is seen not only as the head of the company but as one of the elite who directs the lives of the Colony’s five million inhabitants. By looking at the activities of this company, at its dealings with the Chinese and the role it played in the companies of Hong Kong, this documentary sets out to portray something of the atmosphere of the colony and its curious relationship with the mainland which has led some

people to think of it as “the free zone of China under British management.” Hong Kong is said to be run by the Jockey Club, Jardines. the Hong Kong and Shanghai Bank and the Governor — in that order. And one and all are committed to the relentless pursuit of wealth.

Filmed on location in Hong Kong, Macau, Shanghai and Peking, this documentary gives an insight into the new recruits to Jardines, to their aspirations and prospects in an organisation which deals in everything from cosmetics to cranes.

“Hong Kong Venture" was produced by Anthony de Lotbiniere.