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Huaqiao Capital in the Philippines Economy

Chinatown Manila
Chinatown Davao

The capital of huaqiao (immigrants from China ) occupies key positions in the economy of the Philippines . He is concentrated in banking, insurance, retail, real estate, food processing, energy, air transport, catering, gambling and other key industries. The presence of huaqiao is also noticeable in the media, hotel and textile business, shipping, logistics, construction, the pharmaceutical industry, and mining. As of 2015, among the largest billionaires in the Philippines, the vast majority were ethnic Chinese [1] [2] .

According to various sources, the Chinese control more than half of the country's share capital (excluding the agricultural sector), about 40% of GDP, 35% of total trade, 35% of the largest banks and one third of the 1000 largest corporations in the Philippines. Huaqiao controls 75% of the country's rice-cleaning and flour milling enterprises, as well as almost all sawmills, they dominate the production of beer and strong alcoholic beverages, their influence is noticeable in the clothing, tobacco, leather and salt industries, in shipbuilding and ship repair, and in the production of coconut oil, plastic and glass products [3] [4] [5] .

By the early 1960s, the presence of Huaqiao in Philippine industry had become significant. Among companies that had 10 or more employees, 35% belonged to ethnic Chinese; among companies that hired more than 100 workers, the share of Chinese exceeded 37% [6] [7] . Among Philippine Huaqiao companies, significant investments are from Hong Kong , Macau , Singapore , Taiwan and mainland China.

Content

Largest business conglomerates

  • The Henry Sy family controls the multi-profile holding SM Investments Corporation , the country's largest trading company SM Retail (a network of SM Supermalls shopping malls, The SM Store department stores, SM Supermarket supermarkets, SM Hypermarket supermarkets, Savemore and Walter Mart grocery stores), large banks BDO Unibank and China Banking Corporation , the real estate operator SM Development, the hotel operator SM Hotels and Conventions (including the Manila hotel Century Park), have stakes in energy companies National Grid Corp and Meralco . As of 2016, the state of Henry C. amounted to 13.3 billion dollars [8] [9] [10] [11] .
  • The John Gokongwei family controls the multidisciplinary holding JG Summit Holdings , the trading company Robinson Retail Holdings (the chain of shopping centers Robinsons Malls , the chain of stores True Value, Top Shop, Toys "R" Us and Daiso), the food corporation Universal Robina (drinks, snacks, sugar, flour, animal feed), Cebu Pacific airline, Summit Media media group, real estate operators Robinsons Land Corporation and United Industrial Corporation, Robinsons Bank , petrochemical companies JG Summit Petrochemical and JG Summit Olefins, has a share in the largest telecommunications group Philippine Long Distance Telephone Company and Meralco Energy Company (Manila Electric Company ) As of 2016, the state of John Gokonway was $ 5.1 billion [12] [13] [14] [15] .
  • The Lucio Tan family controls the LT Group's multidisciplinary holding (financial services, real estate, drinks, alcohol and tobacco), the Philippine Airlines , the largest Philippine National Bank , the food companies Asia Brewery (beer and soft drinks) and Tanduay Distillers (rum) , a tobacco company Fortune Tobacco Corporation, a real estate operator Eton Properties, has a stake in the mining company Victorias Milling. As of 2016, Lucio Tan's fortune was $ 4 billion [16] [17] .
  • The George Ty family controls the second largest assets of Metrobank (Metropolitan Bank and Trust Company) and the multidisciplinary holding GT Capital , as well as Philippine Savings Bank , a company in the field of energy, insurance (Philippine AXA Life Insurance Corporation), investments (First Metro Investment Corporation), Real Estate (Federal Land), Car Distribution (Toyota Motor Philippines Corporation), Tourism (First Metro Travel), Food (Wellington Flour Mills), Auto Parts (Toyota Autoparts Philippines Corp), Business Services (Global Business Holdings) and medical services (Manila Medical Services). As of 2016, George T.'s fortune was $ 3.8 billion [18] [19] .
  • Family of David Consunji (David Consunji) controls the diversified holding DMCI Holdings (construction, infrastructure, real estate, utilities, energy and mining), has a stake in the coal company Semirara Mining . As of 2016, the status of David Consunge was $ 3.2 billion [20] [21] .
  • The Andrew Tan family controls the Alliance Global Group multidisciplinary holding (real estate, alcohol, food, gambling), McDonald's restaurant chain in the Philippines, Emperador Distillers (brandy and liquor), real estate operator Megaworld Corporation (residential and office complexes, shopping centers), hotel operator Travelers International Hotel Group. As of 2016, the status of Andrew Tan was $ 3.1 billion [22] [23] .
  • The Tony Tan Caktiong family controls the country's largest fast food restaurant chain Jollibee , as well as its subsidiaries Chowking, Greenwich Pizza, Red Ribbon, Mang Inasal, Burger King (Philippines), Yonghe King (China), Smashburger (USA). As of 2016, Tony Tan’s fortune was $ 3 billion [24] [25] .
  • The Lucio Co family controls the country's second largest Puregold Price Club trading group after SM Retail (Puregold supermarket chains, Puregold Junior supermarkets and Puregold Extra discount stores, pharmacies, stationery stores, wine and cigarette distribution), as well as companies operating in the field of money transfers, real estate and hotels. As of 2016, the fortune of Lucio and Suzanne Co. amounted to $ 1.6 billion [26] .
  • The Robert Coyiuto family controls the insurance company Prudential Guarantee & Assurance and the car dealer PGA Cars (brands Porsche, Audi, Lamborghini and Bentley), has a stake in energy company National Grid Corp. As of 2016, Robert Coyito’s fortune was $ 1.6 billion [27] .

Other business groups

  • The Basilio Yap family controls the Manila Bulletin Publishing Corp ( Manila Bulletin ), the prestigious Manila Hotel, and has a stake in Philtrust Bank . As of 2015, the state of the Yap family was $ 1.4 billion [28] .
  • The Alfredo Yao family controls the multidisciplinary holding Zest-O Corporation (drinks, food and pharmaceuticals), the medium-sized assets of the Philippine Business Bank , AirAsia Zest and the hotel operator Summit Hotel and Resort. As of 2015, the state of Alfredo Yao was $ 1.3 billion [29] .
  • The Dean Lao family controls the multidisciplinary holding D&L Group (food, plastics, aerosols) and the chemical company Chemrez Technologies (dyes). As of 2015, Dean Lao's fortune was $ 1.1 billion [30] .
  • Oscar Lopez Family [comm. 1] controls the multidisciplinary holding Lopez Group , energy companies First Philippine Holdings Corporation and Energy Development Corporation , the country's largest media group ABS-CBN Corporation , cable television operator Sky Cable Corporation , film company Star Cinema , real estate operator Rockwell Land, has a stake in energy Meralco company. As of 2015, the state of Oscar Lopez was $ 1 billion [31] .
  • The family of Andrew Gotianun (Andrew Gotianun) controls the diversified holding Filinvest Development Corporation (real estate, hospitality, sugar industry, biofuels, financial services and energy), a large EastWest Bank . As of 2015, the status of Andrew Gotyanun was $ 0.9 billion [32] [33] .
  • The Betty Ang family controls the food company Monde Nissin (noodles, soups, cookies and drinks). As of 2015, Betty Ahn's fortune was $ 0.9 billion [34] .
  • The family of Eduardo Cojuangco (Eduardo Cojuangco) controls investment and transport companies, the company Northern Cement, and also has interests in the San Miguel Corporation group [35] .
  • The Ricardo Po family (Ricardo Po) controls the food corporation Century Pacific Food (canned fish, meat products, milk powder), has shares in the real estate operator Arthaland Corporation and restaurant chain Yoshinoya [36] .
  • The family of Carlos Chan (Carlos Chan) controls the food corporation Oishi (crackers, chips, cookies, cereals, candies and drinks) [37] .
  • The families of Beatrice Campos and Mariano Tan control the country's largest pharmaceutical company, United Laboratories (Unilab). In addition, the Campos family has a stake in the Del Monte Pacific food corporation [38] [39] .
  • The Ramon Ang family controls the Top Frontier Investment Holdings financial group, the largest diversified conglomerate of San Miguel Corporation (beer, gin, food, packaging, real estate, energy, infrastructure, insurance, transportation services), the largest oil company Petron Corporation , medium Bank of Commerce , telecommunications company Vega Telecom , as well as Cyber ​​Bay Corporation and Eagle Cement Corporation [40] [41] .
  • The Alfonso Yuchengco family controls the large Rizal Commercial Banking Corporation , the Malayan Insurance insurance company and a multidisciplinary group of companies (healthcare, construction, information technology) [42] .
  • Family Bienvenido Tantoco (Bienvenido Tantoco) controls a large chain of department stores Rustan's , has a share in the chain of stores Family Mart [43] .
  • The family of Edgar Sia (Edgar Sia) controls the restaurant chain Mang Inasal (part of the Toll Tan's Jollibee group) [44] .
  • The Frederick Dy family controls the large Security Bank and St. Luke's Medical Center [45] .
  • The Jacinto Ng family controls the food corporation Republic Biscuit Corporation (Rebisco), has a stake in a large Asia United Bank, and invests in residential real estate [46] .
  • The Philip Ang family has a stake in Nickel Asia, a large steel company [47] .
  • The Jeronimo Kilayko family controls the large United Coconut Planters Bank .
  • The Chester Cokaliong family controls the shipping company Cokaliong Shipping Lines .
  • The Benjamin Gothong family controls the shipping company Gothong Lines .
  • The Lucio Lim family controls the shipping company Lite Shipping Corporation .
  • The Julian Sy family controls Trans-Asia Shipping Lines .

Comments

  1. ↑ Sino-Spanish or mestizo origin.

Notes

  1. ↑ Philippines' 50 Richest 2015: Henry Sy Tops The List For Eighth Straight Year . Forbes
  2. ↑ Philippines' 50 Richest . Forbes
  3. ↑ Henry Wai-Chung Yeung. Chinese Capitalism in a Global Era: Towards a Hybrid Capitalism. - Routledge, 2004 .-- S. 13-15. - 320 p. - ISBN 9781134390502 .
  4. ↑ S. Gordon Redding. The Spirit of Chinese Capitalism. - Walter de Gruyter, 1993 .-- S. 28-29. - 267 p. - ISBN 9783110137941 .
  5. ↑ Kwok-Chu Wong. The Chinese in the Philippine Economy, 1898-1941. - Ateneo University Press, 1999 .-- S. 1-2. - 279 p. - ISBN 9789715503235 .
  6. ↑ Annabelle Gambe. Overseas Chinese Entrepreneurship and Capitalist Development in Southeast Asia. - Palgrave Macmillan, 2000 .-- 177 p. - ISBN 9780312234966 .
  7. ↑ Brian C. Folk, KS Jomo. Ethnic Business: Chinese Capitalism in Southeast Asia. - Taylor & Francis, 2002 .-- 264 p. - ISBN 9780203412312 .
  8. ↑ Henry Sy & family . Forbes
  9. ↑ Corporate Profile (English) (inaccessible link) . SM Investments Corporation. Archived March 1, 2016.
  10. ↑ SM Investments . Forbes
  11. ↑ Manila Electric . Forbes
  12. ↑ John Gokongwei . Forbes
  13. ↑ Company Profile (inaccessible link) . JG Summit Holdings. Archived March 3, 2016.
  14. ↑ JG Summit Holdings . Forbes
  15. ↑ PLDT (English) . Forbes
  16. ↑ Lucio Tan & family . Forbes
  17. ↑ The LT Group Organization . LT Group.
  18. ↑ George Ty & family . Forbes
  19. ↑ Metropolitan Bank & Trust . Forbes
  20. ↑ David Consunji . Forbes
  21. ↑ Company Profile . DMCI Holdings.
  22. ↑ Andrew Tan . Forbes
  23. ↑ Business Interests . Alliance Global.
  24. ↑ Tony Tan Caktiong & family . Forbes
  25. ↑ About Us Jollibee Foods Corporation.
  26. ↑ Lucio and Susan Co. Forbes
  27. ↑ Robert Coyiuto . Forbes
  28. ↑ Yap family . Forbes
  29. ↑ Alfredo Yao . Forbes
  30. ↑ Dean Lao . Forbes
  31. ↑ Oscar Lopez & family . Forbes
  32. ↑ Andrew Gotianun . Forbes
  33. ↑ Corporate Profile . Filinvest Development Corporation.
  34. ↑ Betty Ang . Forbes
  35. ↑ Eduardo Cojuangco . Forbes
  36. ↑ Ricardo Po family . Forbes
  37. ↑ Carlos Chan . Forbes
  38. ↑ Beatrice Campos & family . Forbes
  39. ↑ Mariano Tan . Forbes
  40. ↑ Ramon Ang . Forbes
  41. ↑ Top Frontier Investment Holdings . Forbes
  42. ↑ Alfonso Yuchengco & family . Forbes
  43. ↑ Bienvenido Tantoco, Sr. & family . Forbes
  44. ↑ Edgar Sia . Forbes
  45. ↑ Frederick Dy . Forbes
  46. ↑ Jacinto Ng . Forbes
  47. ↑ Philip Ang . Forbes

Links

Source - https://ru.wikipedia.org/w/index.php?title=Capital_huaqiao_in_economy_Philippin&oldid=93723753


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Clever Geek | 2019