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From 1932
After his brief foray into government, Han Liang was faced with not only rebuilding his family life, but also his career. Having found himself out of his league among the inner-circle Shanghai financiers, and apparently with little appetite for further political jockeying, he now chose to focus on purely commercial matters. In doing so, he turned once again to his overseas Fukienese connections.
According to his narrative many years later, “After retiring from government in 1932 he went back to business and became interested in the Philippines where the Chinese community holds a dominant position in the economy of the country.” The country was then under US rule and would remain so until after World War II, but beginning to transition to independence starting from about 1934. Perhaps this moment in time was where the opportunity lay.
According to his narrative many years later, “After retiring from government in 1932 he went back to business and became interested in the Philippines where the Chinese community holds a dominant position in the economy of the country.” The country was then under US rule and would remain so until after World War II, but beginning to transition to independence starting from about 1934. Perhaps this moment in time was where the opportunity lay.
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In the Filipino world of business, he became chairman of the board of the Philippines First Insurance Company (today controlled by the Cu Unjieng and Tanco families), and director of these companies:
Han Liang's children recall that during the 1940s their father would be away in the Philippines every year for up to four months at a stretch. He would delight them by returning with burlap bags full of mangoes. Mary remembers that her family enjoyed them as well. Among Shanghainese businesses, Han Liang served as director of these companies:
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Ad for ABC's Nanking Road shop, promoting a one-day 15% off sale (Shen Po, Jan 7, 1922)
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Detail of ABC stock certificate with signatures and red seal "chops" of Han Liang (far right) and other directors – our only example of his handwriting in Chinese
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Han Liang (and Han Ho) are also known to have had stock portfolios that included good-sized holdings of shares in the Shanghai Commercial Bank of KP Chen, as well presumably of other companies.
These were the final few years of what would come to be called the Nationalists' "Nanking Decade" (1927-1937). It was during this time that HH Kung replaced TV Soong as Minister of Finance and orchestrated a de facto coup of the major banks. Control of many companies was increasingly consolidated under Kung, Soong, his brothers, and a small coterie of bankers and businessmen with whom Han Liang was friendly.
One wonders where the above list of companies fit in and to what extent Han Liang and his peers were willing or reluctant collaborators in the interventionist economic policies of the Kung-Soong cabal. For example, it is known that Chekiang Industrial Bank was among a small number of top banks whose assets and profits actually declined during the mid-'30s, while most of the rest were booming. |
ABC stock certificate dated 1949
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WHAT'S ALL THE FLAP ABOUT?
Early biographies of Han Liang cite his affiliations with the American University Club, Chinese YMCA and Tsinghua Alumni Association, but we don't know if in this later phase of his career he kept up these US-related civic ties. Given Han Liang's profile, it's been asked, but there is no indication that Han Liang was ever a member of “FF". Started in the US in 1910, the fraternity claimed many of the most eminent overseas educated Chinese among its members. Still in existence today, FF stands, comically and mysteriously, for "Flip Flap", while the Chinese name, Lan Ji Hui (蘭集會) – meaning "gathering of orchids" – suggests a high-minded brotherhood. |
SOURCES
Information about Kung, Soong and Chekiang Industrial Bank:
A special shout-out to York Lo for providing the correct English name of the ABC company and correct Chinese name for Flip Flap. Author of a book discussed on the Love-Love page of this website and many articles about the Republican period (Thomas Goon Wong also mentioned here), he has generously shared information and pointed me in the right direction many times. |