What vision does this building evoke? The Ho Sin Hang Building stands as a testament to a remarkable man. He was an entrepreneur, a philanthropist, and a financier. This building is named after Ho Sin Hang.
Ho Sin Hang was born in 1900. He passed away on December 4, 1997 at the age of 97. He left an indelible mark on Hong Kong. Some knew him as S. H. Ho or He Shanheng.
Ho Sin Hang co-founded Hang Seng Bank in 1933. He later served as its chairman. He also co-founded Hang Chong Investment Co Ltd. Moreover, he was the first chairman of New World Development Company.
A renowned philanthropist, Ho founded the S.H. Ho Foundation in 1970. The foundation supports many charitable causes. Education was very important to Ho. He experienced childhood poverty and had little formal education. Because of this, education became the main focus of his giving.
Many institutions bear his name. Among these are S.H. Ho College of the Chinese University of Hong Kong. Also, the Ho Sin Hang Campus of Hong Kong Baptist University carries his name. He was one of the four founders of the Ho Leung Ho Lee Foundation.
Born in Panyu, Guangdong, Ho Sin Hang’s early life was humble. At 14, he began working to support his family. He first worked in a salt warehouse for two years. Then he became an apprentice in a goldsmith’s shop.
Completing his apprenticeship, Ho was promoted to assistant manager at 22. At 24, he started his own trading business in Guangzhou. In 1933, he co-founded Hang Seng Ngan Ho. His partners were Lam Bing Yim, Sheng Tsun Lin, and Leung Chik Wai.
Hang Seng began as a small currency changing booth. It was located on Wing Lok Street in Sheung Wan. Lam managed the Shanghai business. Ho managed the Guangzhou branch.
During the Second Sino-Japanese War, Hang Seng initially profited. It facilitated foreign exchange for the Republic of China. In December 1941, Hong Kong fell to the Japanese. Hang Seng was forced to close. Ho moved to Macau and continued his business as Wing Wah Ngan Ho.
After Japan surrendered in 1945, Ho revived Hang Seng. It became a leader among Chinese-owned banks in Hong Kong. In 1952, Hang Seng Ngan Ho was incorporated. In 1959, it was renamed Hang Seng Bank Ltd.
From 1960 to 1983, Ho served as Chairman. He guided the bank through its IPO in 1960. He also oversaw its sale to HSBC in 1965. This happened when the bank suffered a run on its deposits. In 1983, Ho became Hang Seng’s Honorary Chairman for life. This honor marked the bank’s 50th anniversary.
Later, Ho co-founded Dah Chong Hong Ltd and Hang Chong Investment Co Ltd. He also co-founded New World Development company in 1970. He served as its first chairman. Ho also served as a director of Wing Lung Bank. His other directorships included the Miramar and Furama hotels. He also had business interests in shipping and insurance.
Ho conceived the idea of the Hang Seng Index. He wanted it to be the “Dow Jones Industrial Average of Hong Kong”. He commissioned Stanley Kwan to create the index. Today, it is a leading benchmark for the Hong Kong stock market.
Ho also founded several schools. In 1974, he founded the Hang Seng School of Commerce.
In 1980, Ho found Chen Zhenxia in Shanghai. Chen was a former employee. Chen had kept HK$10,000 in Ho’s trust since 1949. After three decades, the funds had grown to $120 million. Chen used two-thirds to establish the Huaxia Foundation. It supports education and health in China and Hong Kong.
Ho received many honors. He was named an Officer of the Order of the British Empire in 1978. He received honorary doctorates from the Chinese University of Hong Kong and the University of Hong Kong.
The Ho Sin Hang Building stands as a reminder. It commemorates a life of entrepreneurship, philanthropy, and dedication to education. Ho Sin Hang’s legacy continues to inspire future generations. His contributions shaped Hong Kong’s financial and educational landscape.