Mainland Mania In Hong KongPete Engardio
All through Hong Kong's 1980s investment blitz in southern China, the late shipping magnate Y. K. Pao held on to his wallet. Like many of Hong Kong's tycoons, bitter over losing their fortunes in the communist revolution, mainland-born Pao limited his spending in China to charity. But now, under the helm of son-in-law Peter Woo Kwong-ching, Pao's Wharf (Holdings) Ltd. is joining other Hong Kong companies on the investment bandwagon. Among Wharf's bigger schemes: to help develop the inland industrial city of Wuhan into the "Chicago of China" over two decades.
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