"Just as Chairman Li just said, the cost of living in the mainland is not high, probably only one-tenth of that in Hong Kong." Chairman Li smiled as he said this, but Li Zekai's next words were like an invisible slap in the face, making his breathing become a little rapid.
“But the manpower, material resources, and funds required for land acquisition in the mainland are incomparable to those in Hong Kong. Moreover, although the average wage level in the mainland is not high, there are still quite a few wealthy people in some coastal areas and first-tier cities.”
Li Ka-shing vividly remembers this: when VCDs were first launched, each VCD cost as much as 4,000 RMB. This was before the RMB depreciated against the US dollar. If converted to current value, the actual purchasing power was equivalent to 8,000 RMB today.
Of course, this only refers to the exchange rate. Before 1994, 1 US dollar was equivalent to 4.68 RMB, not the current 8.6 RMB.
4,000 yuan was a considerable sum at the time, and even today it would be equivalent to a year's salary for a factory worker in a coastal city. In smaller cities, the average worker's monthly salary was no more than 200 yuan.
"You mean you agree to shift the strategic focus to the mainland market?" Li Ka-shing frowned after hearing this.
“That’s right!” Li Zekai appeared very confident. After that failure, he spent time studying financial management knowledge, especially the economy of mainland China, and conducted in-depth research on it.
"Chairman, there are actually several advantages to doing this."
"Tell me about it."
Li Jiacheng nodded, not paying attention to his son's performance. He also wanted to see what kind of person his son would become after experiencing setbacks in life.
......
Continue read on readnovelmtl.com
