Li Withstands Hong Kong Port Labor Strike With Shenzhen: Freight
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Li Ka-shing, Asia’s richest man, dominates half of the capacity at Hong Kong’s port, where a two week-long strike threatens to send traffic to Shenzhen. That won’t hurt Li. The billionaire controls that port as well.
Terminals backed by Li’s Hutchison Port Holdings Trust have a 46 percent market share in Shenzhen, helping Li recoup any loss at the Pearl River Delta. Li’s two-decade bet on the Chinese city is proving a hedge even as workers shout slogans in Hong Kong denouncing him for paying low wages.