Transition for a Hong Kong Giant Trading Firm Jardine Leaves Colonial Past for Chinese Rule

By Michael Switow, Monitor | The Christian Science Monitor, May 21, 1997 | Go to article overview

Transition for a Hong Kong Giant Trading Firm Jardine Leaves Colonial Past for Chinese Rule


Michael Switow, Monitor, The Christian Science Monitor


One of the most powerful symbols of the old Hong Kong appears to have found a niche in the new.

Since the early 1980s, when London and Beijing began negotiating the terms of Hong Kong's return to China (now about a month away), analysts and investors have wondered about Jardine Matheson group - king of the old British trading companies that founded this colony. Would it survive the change?

And until recently, the public signs were not good. China's official Xinhua news agency denounced the conglomerate four years ago for publicly supporting British Governor Chris Patten's democratic reforms. Xinhua accused Jardine of "an anti-China attitude" and attempting to "undermine the smooth transition" to Chinese rule. In retaliation, China shut Jardine out of Hong Kong's expanded port, critical to Jardine's business. Jardine also roused China's ire by moving its corporate charter to Bermuda in 1984. Then the company pulled out of the Hong Kong Stock Exchange in 1994 in favor of arch-rival Singapore. Both actions showed little confidence in the territory's future. Two stock deals But now, the company's finance arm, Jardine Fleming, has won two prestigious contracts to underwrite stock offerings of Chinese state firms. It will sponsor the new listings, in Hong Kong, of China's largest cementmaker, Ningguo Cement, and state coal firm Yimeng Coal. Competition to underwrite the stock of Chinese companies in Hong Kong is particularly fierce, because investors are practically knocking down doors to buy shares. A recent offering - by the overseas investment arm of the Guangdong provincial government (a province in southern China) - was heavily oversubscribed. Demand for the shares exceeded supply by almost 900 times. Jardine officials have downplayed the news, perhaps to avoid drawing attention to their absence from China's financial activities, despite maintaining the largest presence on the mainland of almost any investment house. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Transition for a Hong Kong Giant Trading Firm Jardine Leaves Colonial Past for Chinese Rule
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.