12 Facts About Yue-Kong Pao

Sir Yue-Kong Pao CBE JP, was the founder of Hong Kong's Worldwide Shipping Group, which at one point was the largest shipping company in the world.

Yue-Kong Pao was noted for his unmatched access to leaders in both the commercial and political arenas and was equally at ease with Western political leaders and the Chinese leadership in the run-up to Hong Kong's handover to China on 1 July 1997.

Yue-Kong Pao was a philanthropist, notably in educational projects, helping set up universities, libraries, and scholarships.

Yue-Kong Pao was moving up the corporate ladder, moving into the area of banking, and moving to Hengyang and Chongqing as the progress of the war dictated.

Yue-Kong Pao devised a system whereby he was able to secure bank guaranteed three-year charters prior to purchasing ships thus significantly reducing the business risks and creating a very attractive lending opportunity for the banks financing the ship purchase.

In recognition of his achievements Yue-Kong Pao was made an Honorary Doctor of Law by the Hong Kong University in 1975, and in 1976 appeared on the front cover of Newsweek magazine with the heading "King of the Sea".

Yue-Kong Pao received the Golden Plate Award of the American Academy of Achievement in 1977.

Friction with the Jardine camp broke out in the late 1970s over board appointments which concluded with the Yue-Kong Pao camp being allowed two more directorships.

Yue-Kong Pao then took over the roles of chairman and Chief Executive.

Yue-Kong Pao had already retired from his directorship of the Hongkong and Shanghai Banking Corporation in 1983 when he hit the mandatory retirement age of 65 but continued to lead a very active life taking in advisory roles and philanthropic activities.

Yue-Kong Pao was active in philanthropic works and was particularly interested in educational projects.

On 23 September 1991, Yue-Kong Pao died in Hong Kong at age 72.