In a dramatic moment amid rising U.S.-China tensions, Hong Kong tycoon Li Ka-shing stepped out of retirement to negotiate a massive deal: the sale of 43 overseas ports — including two critical ones at the Panama Canal — to the U.S.-based investment group BlackRock. With the canal now a strategic flashpoint between China and the U.S., the announcement stirred intense reactions across Chinese media.
Mainland outlets accused Li Ka-shing of “selling out the nation,” but markets had a different take. As soon as the deal went public, shares of Li’s company, Cheung Kong Holdings, soared by 20 percent. The Hong Kong stock exchange rallied. In an online poll, more than 99 percent of local respondents supported the sale. After all, the ports were privately owned overseas assets, and the US$22.8 billion offer was difficult to ignore — bringing windfall profits to shareholders and a boost to the city’s struggling economy.
But how does a businessman in his nineties continue to make the right moves at the right moments?
A track record of uncanny timing
Li Ka-shing’s ability to anticipate market shifts has earned him the nickname “Superman” in Hong Kong’s financial world. Time and again, he has exited sectors just before downturns and reentered just as opportunities emerged.
In 2015, when China’s real estate market began to crash, most developers were caught off guard. But Li Ka-shing had already sold more than US$25 billion worth of mainland properties in the two years prior, including assets in Guangzhou and Nanjing. While others scrambled, he remained untouched.
It wasn’t the first time. Before the 2008 global financial crisis, Li Ka-shing sold valuable land in Shanghai for a sizable profit. In 2017, he parted with the Cheung Kong Center — prime office real estate in Hong Kong’s Central District — at a peak price. Just two years later, political unrest and economic decline led to a decline in property values in the area. Once again, Li had quietly stepped away at just the right moment.
Even in early 2020, as the COVID-19 pandemic began to spread, Li canceled a planned US$2.2 billion acquisition of London office buildings. By the time the U.K.’s commercial property market began to falter, he was long gone.
So what’s the secret behind his seemingly flawless timing?
Walking the right path — business and belief
Many attribute Li Ka-shing’s success to more than just sharp instincts. Behind the scenes, two respected feng shui masters — Master Chen and Master Tsai — quietly advised him for decades.
Li Ka-shing first met Master Chen Lang, known affectionately as “Uncle Chen,” when he was still a struggling young entrepreneur. At their first meeting, Chen reportedly told him: “You will become the richest man in Hong Kong.” The two developed a lifelong friendship. As Li expanded into real estate, Chen offered feng shui guidance — even during the notorious “Central feng shui war.”
In that episode, two architectural symbols were said to threaten Li Ka-shing’s Cheung Kong Center: the Bank of China Tower, with its aggressive steel “blades,” and HSBC’s “cannons” aimed toward his building. These features created what feng shui practitioners consider a dead zone. Chen’s solution? A simple but effective redesign using bulletproof glass, which softened the surrounding energy and restored balance.
Before his death in 2002, Chen left Li Ka-shing with one lasting piece of advice:
“Never take the crooked path. Even if your fate holds great fortune, straying from integrity will cost you everything. You might think you’ve succeeded, but you’ll pay for it in the end.”
Li Ka-shing took those words to heart. In public speeches over the years, he has repeatedly emphasized that success must rest on fairness, honesty, and doing business the right way.
A partnership rooted in virtue
After Chen’s passing, Li Ka-shing increasingly relied on another trusted guide: Tsai Po-lee, a feng shui master from a family known for producing Hong Kong’s traditional almanacs — calendars that list auspicious dates for everything from weddings to business travel. These calendars remain a fixture in many Hong Kong households.
Tsai’s work extended to some of the city’s most iconic landmarks, including the Tian Tan Buddha on Lantau Island — the world’s largest seated outdoor bronze Buddha. He advised on its placement and orientation, ensuring it aligned with the island’s “dragon veins” — a term in feng shui referring to powerful energy lines believed to influence fortune and stability. The layout is credited with helping to preserve Hong Kong’s spiritual balance and prosperity.
Despite his influence, Tsai is famously discreet. He rarely discusses his clients and once turned down a large payment from someone eager to make his consultations public. “Feng shui only works when done quietly,” he said. “Talk too much, and it loses its power.”
A love story with deep roots
One of Tsai’s most meaningful projects with Li Ka-shing was deeply personal: the final resting place of Li’s wife, Chong Yuet-ming. Their relationship was a story of perseverance and devotion that stretched beyond business.
Li Ka-shing and Chong were cousins raised under very different circumstances. When Li’s family fled to Hong Kong during the Japanese invasion, they took refuge with Chong’s wealthy father. After Li’s own father died young, he dropped out of school to support his family. Throughout his hardships, Chong stood by him.
Her family disapproved of the romance. She was sent to study in Japan, while Li Ka-shing remained in Hong Kong to build his career. But their bond endured. In 1963, they finally got married. Chong became not only his partner in life, but also a trusted advisor in business, offering a global perspective to complement Li’s streetwise instincts.
Her sudden death in 1990 was a profound loss. Li Ka-shing never remarried. Instead, he channeled his energy into philanthropy — establishing the Li Ka-shing Foundation, which has donated billions to education and medical causes. He often refers to the foundation as his “most beloved third son” and sees it as a continuation of Chong’s compassion and values.
See Part 2 here
Translated by Joseph Wu
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