Business: Invasion from Hong Kong

The textile experts said it was folly: garment factories could never flourish in Hong Kong because of lack of water and trained workers. Besides, there was the powerful new force of Japanese competition. But Chen Che Lee, a wealthy young Shanghai cotton manufacturer, fooled the experts. In 1946, with $1,500,000 borrowed from friends, Lee established South China Textile, Ltd., the first major textile mill in Hong Kong. Over the past decade, problems have been over come, and from Lee's daring example has grown an industry that this year will ex port $110 million worth of garments. So successful is Hong...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!