Chapter 229: Planning for the Future Kwai Chung Container Terminal
"That's right," Zheng Yuhua said. "The hardest part is finding a suitable site for a port. Once we have the right location, everything else is just a matter of money. There are already a lot of local ships in Hong Kong, and trade volume is rising. Existing shipyards often aren't enough. If we can build a new one, it'll be much more convenient for maintaining our own ships, and we can even take on outside business."
"That's a good idea," Yang Wendong agreed. "If we're bullish on shipping, then investing in supporting services makes perfect sense."
Zheng Yuhua continued, "Yes. All the bigger shipping companies in Hong Kong already have their own ship repair docks—Taikoo, Jardine Matheson, Whampoa, and Wheelock all entered this business early. These British-run shipyards can even repair warships and serve as maintenance hubs for the British Navy in Asia."
"Mmm." Yang Wendong nodded. "So investing in a shipyard is clearly a good move. We just need to find the right place."
Zheng Yuhua said, "Right. As far as I know, there aren't any natural deepwater harbors left around Hong Kong. If there were, the Brits would've taken them long ago. To build a new shipyard, we'll have to reclaim land from the sea—but choosing the right location will require extensive surveying and mapping."
"Yeah," Yang Wendong said. "Compared to the cost of acquiring suitable land, a few million dollars is nothing. I'll leave this to me. I'll ask Changxing Real Estate to begin scouting for potential locations."
"Understood. I'll wait for your news," Zheng Yuhua said.
...
The next morning, Yang Wendong arrived at the top floor of the Jieli Building. Zheng Zhijie and Liu Huayu were already there.
Yang Wendong asked, "How was the site visit yesterday?"
Liu Huayu replied, "The location is excellent—very convenient for transportation. There's even an underground parking garage, and bus stations nearby. All of this makes it ideal for a supermarket or department store. In terms of supply, I spent the afternoon and evening reviewing things with Mr. Zhao. We even visited his warehouse. He can currently meet about half of our supermarket's supply needs. The only issue is the cost—it's a bit high because our purchase volume is still small."
"Mmm, get the store up and running first," Yang Wendong nodded. "Rely on Zhao Chengguang for now. Once we open more branches and our purchasing volume increases, we can either continue buying from him or set up our own supply chain."
Zhao Chengguang had been supplying many grocery stores and small markets in Hong Kong, making him a perfect match for the supermarket's needs. This was exactly why Yang Wendong had always valued him—he knew he'd need this kind of resource eventually.
"Understood. Once we open the first supermarket, we'll begin developing other suppliers step by step," Liu Huayu said.
Yang Wendong nodded. "Right. But once we scale up, we should still give Zhao Chengguang some business. He's helped me a lot in the early days."
For those who had helped him early on, Yang Wendong always ensured a proper return. The only exception was Elena, the foreign woman who had helped him selflessly but refused any rewards. Still, the colonial government, recognizing her ties with Yang Wendong, had assigned her some responsibility in social welfare programs, which aligned with her personal values and gave her some fulfillment.
As for Zhao Chengguang, their partnership had started from mutual interest, but he had still opened doors for Yang Wendong. In return, Changxing Industrial's Hong Kong market had been entrusted to him. Now, even if the supermarket eventually built its own supply chain, there would still be a lot of leftover work that could be outsourced to Zhao.
"Got it. No problem," Liu Huayu nodded. "Yesterday, Mr. Zheng and I also looked at three storefronts near Central. The sizes were decent, and from a location perspective, all are suitable for new supermarkets."
"Which three locations?" Yang Wendong asked.
"I brought a map," Zheng Zhijie said, pulling out a map of Central with several hand-drawn circles. Handing it to Yang Wendong, he explained, "I initially identified eight options. After Mr. Liu's visit, we agreed that these three were the best."
Yang Wendong looked at the map. "They look good. A bit spread out, but all in decent commercial zones."
"Yes," Liu Huayu confirmed. "The transportation links are good too. Central's bus stops are densely packed. Mr. Huang has also promised to add a few new stops closer to our locations."
"Great." Yang Wendong turned to Zheng Zhijie. "Are the properties for sale?"
"Only one owner is open to negotiation," Zheng Zhijie replied. "The other two are owned by Jardine Matheson and Wheelock. They're not selling—only willing to lease. Whether we buy or lease, we need to decide quickly. Otherwise, someone else might snatch them up."
"Alright. Then let's buy what we can and lease what we have to," Yang Wendong said. "But make sure the lease terms are favorable, especially the duration. We don't want to build up a location only for the landlord to refuse to renew our lease."
Ideally, it was better to own property, but it wasn't realistic to insist on 100% ownership—especially not in a mature, highly competitive market like Hong Kong.
In a newly opened market, like mainland China after the economic reforms, you could pick your locations freely. But in Hong Kong, which had been developing for over a hundred years, it was much harder to cherry-pick prime real estate. And supermarkets relied on scale to reach a healthy operational cycle, so renting was acceptable at this stage.
"Understood," both Liu Huayu and Zheng Zhijie replied.
Yang Wendong continued, "Old Zheng, this supermarket business has a degree of regional exclusivity. Once a supermarket opens in an area, it's hard to open another—plus, it tends to suppress the surrounding shops. So here's another task for you: identify all the properties in Hong Kong that would be suitable for future supermarkets. Make a list. We'll buy them when the time is right."
"Old Liu," Yang Wendong turned to Liu Huayu, "your job is to understand Hong Kong residents' shopping habits. Develop a retail strategy that fits Asian consumers, and start training ground-level management over the next few years."
Over the next few years, the goal was to accumulate experience, nurture talent, and build out the supply chain. Then, when the 1966 real estate crash hit, Yang Wendong would swoop in and buy up supermarket-suitable properties all over Hong Kong.
If he could seize the lead and open stores throughout the city, it would be hard for others to catch up—even the titans like Jardine Matheson would have a tough time competing once he had a head start.
"Understood," Zheng Zhijie replied.
Yang Wendong added, "Old Liu, go ahead and get back to work. I have something else to discuss privately with Old Zheng."
"Alright, Mr. Yang. I'll take my leave." Liu Huayu stood up and exited the room.
Yang Wendong turned to Zheng Zhijie and said, "Old Zheng, Changxing Shipping has proposed an investment plan—they want to build a dockyard in Hong Kong for ship repair and maintenance. The requirement is..."
After listening to Yang Wendong explain the details, Zheng Zhijie asked, "Mr. Yang, will this project fall under Changxing Real Estate?"
"No," Yang Wendong shook his head. "This project will fall under Changxing Shipping. The investment will also come from them. I came to you because of your experience and contacts in the real estate industry. I need you to help find a suitable coastal location where we can reclaim land for a dockyard."
"Mr. Yang, about this..." Zheng Zhijie hesitated for a moment and then said, "Finding a suitable coastal location sounds simple if money can buy it. But in reality, it's very difficult in Hong Kong. There's a lot of coastline, but suitable spots are rare. If it were easy, others would've already done it long ago.
Actually, in the past several years, many investors have tried this. Some even identified potential sites for reclamation, but in the end, they halted the projects because the economics didn't make sense."
"I know that already," Yang Wendong said calmly. "But I have a friend—let's say someone with strong connections. He told me that in the Tsuen Wan District, near Kwai Chung's Gin Drinkers Bay, there's a site that might be suitable. Arrange for a team to survey the area. If it's viable, Changxing Shipping will build the dockyard there."
In the original timeline, Hong Kong's container port was developed in Kwai Chung in the late 1960s. At the time, Kwai Chung was just an average town like Kwun Tong.
This could be Yang Wendong's chance. Though he didn't yet have the capital to develop a full-fledged container terminal, building a dockyard was still within reach.
If the location he chose overlapped with the future Kwai Chung container port, not only could he receive relocation compensation later, he might also get involved in the port project itself—especially since his wealth a decade from now would be far greater than today.
And even if the dockyard and the port coexisted peacefully, having a facility next to a major shipping hub would mean booming business. No matter the outcome, he would profit.
"Drinkers Bay, huh? I've heard of it," Zheng Zhijie nodded. "I'll get some professionals to survey the site."
"Alright, get me an answer as soon as possible," Yang Wendong instructed.
Three days later, Zheng Zhijie returned with results. "Mr. Yang, I sent a team to Gin Drinkers Bay. If we're willing to do land reclamation, it's feasible to build a dockyard there."
"So quickly? Only three days?" Yang Wendong was surprised by the speed.
Zheng Zhijie explained, "Once we had the exact location, I contacted the right people. I offered them a bit of a bonus. A few experts either took leave or skipped work to head directly to the site. They spent two days there, measured the water depth and shoreline gradient, and determined it's doable."
Yang Wendong nodded. "That's good. With such quick results, we should definitely give them a bit more for their trouble."
Reportedly, in the original timeline, the Hong Kong government invested a huge amount of time and resources into finding a suitable location for container port development, which ultimately led them to Kwai Chung. Yang Wendong had essentially shortcut that process by pinpointing the most suitable spot from the get-go.
"Alright," Zheng Zhijie agreed. "But I should mention—they've only come to a preliminary conclusion. The local topography is suitable for a dockyard or port, but detailed calculations are still needed to determine actual costs. So we can't yet say it's financially sound to build there."
"Fair enough," Yang Wendong replied. "Hire professional consultants to carry out a full feasibility study. Also, notify the Hong Kong government—we plan to build a dockyard here."
Building it in Kwai Chung would definitely be cost-effective. Otherwise, it wouldn't have been chosen as the site for the future container terminal. But of course, the proper bureaucratic process needed to be followed.
"I'll have our legal department handle it," Zheng Zhijie said. "However, since this is a major investment and a key project for Changxing Shipping, should they also send someone to participate in the planning? At the very least, they should inspect the site."
"You're right," Yang Wendong nodded. "Let's do this—tomorrow, I'll go take a look myself, along with Ms. Zheng. I want to see the place too."
After all, this was the future site of the Kwai Chung Container Terminal. Even if he wasn't building that port yet, it was still meaningful to inspect it personally.
"Alright, I'll arrange everything," Zheng Zhijie said.
Major projects like this were always best when the boss visited in person—just like how Yang Wendong personally inspected every major real estate project under Changxing Real Estate.
The next morning, Yang Wendong, Zheng Yuhua, and Zheng Zhijie arrived at the shores of Gin Drinkers Bay.
"Wow, lots of rocks here," Yang Wendong commented as he looked around.
Zheng Zhijie replied, "Yes, this area is far from deserted, but it's definitely not a place where many people go. There are some villages about a kilometer to the east."
"Let's walk around and get a feel for it," Yang Wendong suggested.
"This way, Mr. Yang," Zheng Zhijie said.
As they walked along the rocky, sandy shoreline, Yang Wendong asked, "Old Zheng, if we apply to the Hong Kong government to develop this land, will we be approved?"
"It shouldn't be a problem. There are no current government plans for this site, so there are no conflicts," Zheng Zhijie said. "Besides, the government has been trying to develop Tsuen Wan District for years but hasn't found a key industry to anchor it. If we build a shipyard here, it would significantly benefit the local economy."
"Great," Yang Wendong said after thinking it over. "Let's immediately arrange for dockyard construction and land reclamation experts to conduct a detailed cost assessment. Once that's done, we'll formally apply to the government for approval.
While we're at it, let's apply for more land in the area. One dockyard won't be enough in the future, and we'll need space for supporting infrastructure—repair facilities, worker dormitories, and so on."
Since he was investing in the area anyway, he might as well stockpile some land. The place was basically barren right now—land prices were under one dollar per square foot.
Zheng Zhijie reminded him, "Mr. Yang, this land can only be approved for industrial use."
"I know. That's exactly what I want," Yang Wendong said with a smile.
He wasn't expecting this to turn into a Kowloon Wharf or Taikoo Shing. What he needed now was a functional dockyard and a foothold in the future Kwai Chung container terminal project.
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