Lai SeeHang Lung does no evil, says chairman Ronnie Chan

Ronnie Chan Chichung has been waxing lyrical about the virtues of Hang Lung Properties.

In his chairman's letter to shareholders, he discusses the question of guanxi and how the company does business on the mainland.

Hang Lung does not approach government officials in Hong Kong or on the mainland. It doesn't "unnecessarily befriend" local leaders here or in Beijing and it never gives gifts, at least not expensive ones. Impressed? The list goes on. Hang Lung does not entertain officials at expensive restaurants - "We always do what is proper and reasonable". Last but by no means least, "We do not only abhor evil but also avoid the appearance of evil".

We get the picture - Ronnie, like the proverbial wise monkey, does not see, hear or do evil. However, one is left wandering how Hang Lung does any business at all. He says the company's reputation is enough to open the doors he needs to. "Having established our reputation of being a straight shooter, corrupt officials probably know better than to ask us for favours." But what's Ronnie up to here? Is he suggesting that there are other property companies which hire former government officials and conduct business in a less than straightforward manner?