1948 to 1949, the Move to Hong Kong, China



The Tsao family left Shanghai in 1948, heading southwards to Hong Kong, China, and westwards to the Americas. Frank Tsao Wen-King, who was a third-generation member of the family, remained in Shanghai to oversee the family business. In 1949, Frank Tsao Wen-King relocated the family assets and business to Hong Kong, China.

1930s to 1940s: Turbulent Times



During a period of turbulence, with World War II spreading to Asia, the Tsao Family business suffered a major setback. They lost a significant part of their assets and business. This chaotic period forced the family to reevaluate their options. However, amidst all the chaos, new opportunities emerged for the family business.

 

1920s, Growth & Prosperity



In the 1920s, the Tsao family business, led by its second-generation, George Tsao Ying-Yung, expanded and diversified its services to meet the needs of North Asia’s industrialisation. It was a time of growth and prosperity as the company evolved to serve the needs of its era.

  • From the 1910s to the 1920s, the transportation business grew to include cargo transport, and Tsao Pao Chee evolved into a comprehensive water-transport logistics business with warehousing and banking services.
  • This period of expansion and prosperity saw the business grow from strength to strength. Nancy Tsao-Ng Yu-Shun, George’s wife, operated a large jewellery store in Shanghai known as the Tien Bao Cheng Jewellery Shop.
  • The Tsao family business had multiple businesses in Shanghai and along the Yangtze River.