Li Zeyi’s best decision to pick up a business 80% of the time to take care of insurance Fu Wei continued to expand Southeast Asia

Li Zemin, the second son of Li Ka-shing, the richest man in Hong Kong and the founder of (00001), has established himself 24 years ago. He has a lot of business, and he is involved in finance, telecommunications, real estate and media. When Li Zemin attended the Hong Kong radio show “University Question” interview video yesterday, he said that he is currently focusing on insurance business, occupying 70% to 80% of his time. With the expansion of Fuwei Insurance into Southeast Asia, the average growth in the past few years is about 30%. 9 increased to 10.

Li Zezhen pointed out that the population of Southeast Asia is huge, and the number of middle-class people is increasing. To protect the family from losing the economic pillar (breadwinner), they can still maintain their lives. There is considerable demand for insurance in the district. At present, Fuwei Insurance has covered Hong Kong, Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam and Japan.

In the 1990s, Li Zemin left the family business and acquired the insurer to establish Yingke Insurance. He recalled that from 4 people to 4,000 people before the sale, there were positive and negative lessons. “I feel that today I went out to open a company with a group of colleagues in 1994. It is the best decision of the world.” Until 2012 again. Entering the insurance industry, acquiring the Dutch International Group (ING) Hong Kong and Macao business and changing his name to Fu Wei, he thought he was lucky. “Not many opportunities can have a second time.”

Regret for debt reduction, Tencent’s shareholding

Li Zezhen, who was described by his father Li Ka-shing as “a lot of business”, relatively let go of the telecommunications and media businesses of its PCCW (00008) and Hong Kong Telecom (06823). He pointed out that because colleagues have been working together for more than a decade, it is enough to have one or two visits a month. For him, the revenue of the telecommunications business in mature markets is unlikely to have double-digit growth, but the cash flow is still growing. The media business is not easy to do, but there is no plan to sell it. Li Zezhen also said that the operation of the media business is not intended to increase its influence. It is a long-term reader to read the “Letter” from the age of 10, and hopes that the “News” can maintain the level and credibility of the founders and provide certain international and mainland information. Cultural vision.

Li Zezhen admits that after selling Tencent (00700) shares, he felt “small red” for the goods. He explained that in 2000, Yingke Digital Power spent 290 billion yuan to acquire Hong Kong Telecom and borrowed 18 billion US dollars from the bank. After that, it urgently needed to sell non-core business to reduce debts. The pressure was great, so Tencent was taken out. He pointed out that after receiving 20% ​​of Tencent’s equity in more than 100 million US dollars that year, he won 10 times return, but it became a profound lesson.

Regarding economic policy, Li Zemin said that he used to prefer a free economy and actively did not intervene. At present, he believes that the government should participate in the redistribution of social wealth. He cited the United States as an example. Except for Chicago, San Francisco and major cities in New York, the per capita income of other cities has not increased unless inflation has increased. Only a small number of people have improved their lives. This problem should be addressed squarely.

Do not hurt a country, lose two systems

Recently, the global market conditions are unstable. Li Zemin agrees that the international community and the economy are indeed experiencing great turmoil. The Sino-US trade war is only the first stage. The jealousy of other countries will make the situation worse. Hong Kong must be “defended in the edge of large economies.” “.” He believes that Hong Kong is an open economy. “In the past, the US stock market took a nap and Hong Kong (the stock market) would be a big hit.” At present, it is only a country that has become a multi-faceted influence. He continued that Hong Kong people have always been good at “exercising”. The advantage lies in the continuous reception of Chinese and foreign knowledge and culture and an international perspective.

In recent years, Hong Kong people are worried that external factors will affect the value of Hong Kong. However, he pointed out that Hong Kong should not be excessively localized in terms of information and culture. It is equivalent to “suicide” to resist understanding of mainland information. The Dawan District Policy promotes exchanges between Hong Kong and Guangdong Province and is a rare opportunity. Politically, he believes that Hong Kong’s greatest advantage is “one country, two systems” and says: “Don’t hurt a country, so that everyone will have no two systems in one day. If there is no two systems, it is the biggest crisis in Hong Kong.”