TNAG-1171-FCO40-1452-Future-of-Hong-Kong-1982 — Page 102

SIR YUE-KONG PAO CBE LLD JP

Born 1918 Zhejiang Province, China.

Educated Shanghai and went

into banking. Took refuge in Hong Kong in 1949, entering import/

export business. Purchased first ship in 1955 and formed World-

Wide Shipping Group, now the world's largest independent, of

which he is Chairman and President.

Banker by origin and instinct, remains a Director of Hongkong

and Shanghai Banking Corporation. Takes keen interest in Inter-

tanko (representing 80% of world's independent tanker tonnage)

of which he is Chairman. Rumoured to be trying to bring dry

bulk tonnage under the wing of Intertanko which would give it

even greater influence. Recently joined Hong Kong Shipowners

Association but stands aloof from Liberian Shipowners Association

although most of his fleet flies Liberian flag.

Guest of President and Mrs Marcos at UNCTAD V. Invited to

President Reagan's Inauguration. On visiting terms with Chinese

leadership where a cousin was until recently Vice Minister.

(Has $50 million shipping joint venture with China). Frequent

contacts with British Ministers and called on Prime Minister in

June 1979, November 1980, July 1981 and December 1981. The Prime

Minister named one of his ships in March 1982.

CBE 1976.

Knighted 1978.

Married, four daughters.