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April 21, 2007
You are on the invidual archive page of The real Chinachem mystery. Click Simon World weblog for the main page.
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The real Chinachem mystery
The Economist profiles the late Nina Wang...the whole thing is a good summary of the Chinachem saga, but with a couple of highlights: ...The origin of Nina's and Teddy's fortune has always been mysterious and became more so as it grew. The Wang fortune originated in Shanghai, where the two met as children. They migrated to Hong Kong in the 1950s after the communist takeover, when getting out was hard and shifting wealth even harder. (Many Hong Kong fortunes are hard to explain, and it is considered bad manners to ask questions about their origins.) By the 1970s, the Wangs' company, Chinachem, owned vast swathes of the New Territories, the stretch of land between Kowloon and the Chinese border. The firm eventually erected more than 300 buildings, many of which were controversial because they circumvented zoning laws or were said to skimp on quality.posted by Simon on 04.21.07 at 10:49 PM in the Hong Kong people category.
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