Challenges, struggles and advice: Shih Wing-ching shares his views on Hong Kong, China and their future

Outspoken Hong Kong businessman and founder of property agency Centaline, Shih Wing-ching, 67, has been a familiar face in the city for decades. His story of building his Centaline empire from a single branch in 1978, is similar to Hong Kong’s other tycoons, and frequently used as an example of what hard work and determination can achieve. Today, Centaline has more than 300 branches and 4,000 employees in Hong Kong. In 1992, his company ventured into the mainland, and now has more than 1,500 branches across 30 cities.

However, critics argue that the boom years of the 1970s to the 1990s gave businessmen like Shih an advantage, and the same type of success is difficult to replicate in today’s globalised and saturated Hong Kong economy, leaving many youths feeling disenfranchised.

Shih believes however, that the city still has a lot to offer young people of Hong Kong.

In 2005, Shih, ventured into the media business, founding am730 – a free Chinese-language newspaper – when other friends and businessmen warned him not jump into a business that they said was sure to lose money. He also regularly writes a column for the paper. Am730 is printed by South China Morning Post Publishers.

A staunch leftist-turned-capitalist, Shih is also an active philanthropist, donating billions of dollars to charitable organisations. In 2008, Shih donated all of his shares in Centaline to the Shih Wing Ching foundation.

Speaking on the sidelines of the Hong Kong Trade Development Council’s Entrepreneur Day last week, Shih is never one to shy away from questions and always has candid opinions on issues affecting his company, the city and the country.