In the Zhongbao Village of the Zhenhai District in Ningbo stands a typical traditional Jiangnan residence. This building, dating back to the Qianlong period of the Qing Dynasty, and now a protected cultural heritage site in Zhejiang Province, is the birthplace and childhood home of the legendary 'King of Ships' Mr. YK Pao.
The residence is centred upon the 'Lv An Tang' and covers an area of approximately 800 square meters. It has undergone several renovations, in 1989, 2009, and 2018, and today serves as an important venue for exhibiting the extraordinary life of Sir YK Pao. Still more significant than the building itself is the spirit of the Pao family and the character of Sir YK Pao that this home embodies.
In 1984, YK Pao returned home to explore his family history. While researching the Pao Family Genealogy Records in Henghe Yan, at the Tianyige in the Zhenhai District, he discovered he was the 29th-generation direct descendant of Pao (Bao) Zheng, a renowned Magistrate of the Northern Song Dynasty (960-1127).
YK Pao and Lady Pao are accompanied by their family members during a visit to their old home in Ningbo in 1985
Pao (Bao) Kuizhi, an ancestor of YK Pao and twenty-first generation descendant of the esteemed Magistrate Pao (Bao) Zheng, has a story that beautifully illustrates personal integrity. Pao (Bao) Kuizhi, a tailor by trade, decided to take up the better-paying silk trade. He had to travel between Wenzhou and Zhenhai to trade silks. One day, while staying at an inn in Tiantai, he discovered that his bundle had been taken by mistake and he left with a bundle containing a draft worth 5,000 taels of silver and 200 taels in silver ingots. He waited for several days but nobody came to claim the bundle. So he left his name and address with the innkeeper for the owner should he come back, and took the bundle home.
YK Pao looked up his genealogy in Tianyige of Ningbo
One year later, a merchant selling lumber from Fujian Province came to the Pao home looking for his lost belongings, and Pao Kuizhi promptly returned the entire contents untouched. When the merchant offered him a reward, Pao Kuizhi graciously declined, saying with a smile, "I waited for you without touching your 2,000 taels, why should I want to accept 200?"
The legend of YK Pao in the shipping industry began in 1955, when he acquired a second-hand steam ship named 'Golden Alpha', with a modest freight capacity of just 8,000 tons. From this humble beginning, he proceeded to revolutionise the industry with his innovative 'low-margin, long-term lease' model. This stable, low-risk strategy was rooted in his early experiences in banking and finance, and proved to be a crucial factor in his later success.
The first ship named Golden Alpha purchased by Sir. Y. K. Pao
In June 1980, YK Pao secured control of Kowloon Wharf (Holding) Limited from Jardine Matheson in a competitive acquisition process, making history as the first Chinese individual to triumph over major British banks in the stock market. Reflecting on this achievement later, he expressed pride in having earned recognition for the Chinese people at the highest levels of international business.
In 1985, YK Pao defeated a Singapore-Malaysia consortium to acquire Wheelock Marden, another major British company, originally founded in Shanghai. This second landmark acquisition completed a shift in the East Asian business landscape, as Chinese enterprises began to replace their British counterparts, paving the way for a smooth transition of Hong Kong back to Chinese governance in the following decades.
The Pao family has long appreciated its traditions of integrity and honesty passed down through the generations. Siu Loong Pao, the father of YK Pao and twenty-eighth generation direct descendant of Pao (Bao) Zheng , embodied this spirit of integrity similarly. From his days at the ‘Paopinghe Shoe and Hat Shop' in Hankou to his successful shipping business in Hong Kong, Siu Loong Pao consistently adhered to principles of honest commerce. In 1984, he was posthumously honoured with the title of 'Justice of the Peace,' and his guiding words— "Build your hometown and love your country"—became a cherished family creed.
Siu Loong Pao consistently imparted the teachings of Pao (Bao) Zheng to his children, emphasising the importance of character. Given the name Yugang, YK Pao was expected to grow up cherishing his integrity, as pure and forthright as white jade. YK Pao took his father's lessons to heart, always honouring his commitments to integrity in business.
The statue of Sui Loong Pao standing in the former residence of YK Pao.
YK Pao's commitment to frugality was deeply rooted in his family's values. His mother, Saiqin Chen, an educated and sensible woman, often emphasised that thrift is a fundamental principle of life. From a young age, she taught him and his siblings not to waste food, insisting that they should never let rice fall to the floor while eating. Despite her own frugality, she generously shared food with those in need, offering surplus rice to help the less fortunate.
YK Pao embraced these values from the family, displaying a generous spirit when necessary, but always exercising restraint when it came to spending. This principle was evident in all aspects of his life. He wasn't fond of smoking or drinking, often opting for mineral water or other non-alcoholic beverages when toasting at banquets. Rather than seeking out expensive delicacies, he preferred the comforting flavors of home-cooked Ningbo cuisine. His wardrobe reflected his modesty; although he owned several new bathrobes gifted by friends and his daughter, he still favored an old, well-worn robe, patched many times over.
The bathrobe used by YK Pao after swimming
This frugal mindset influenced the education of his children. The clothes worn by his four daughters during their childhood were all handmade by his wife, Pao Huang Su-Ing. When the older daughters outgrew their clothes, they were passed down to the younger ones, who thus took turns wearing them. Reminiscing about her father's style of teaching, Anna Pao Sohmen said: "As a child, I once saw a classmate's shiny pink shoes and wanted a pair for myself. My father asked, 'How many feet do you have? You only need one pair; what good is an extra pair just sitting around?' He always taught us this way." This simple value system persisted to the third generation. For example, Philip Sohmen has chosen to fly economy class in all his travels, no matter the distance. These choices reflect a lifestyle grounded in humility, as attested by the moniker 'The People's Shipping King.'
Since YK Pao's first return to his hometown in 1984, his ancestral home has undergone systematic restorations and improvements. It officially became a memorial hall in 1991, was recognised as one of the ten notable celebrity residences in Ningbo in 2006, and was designated a provincial-level cultural relics protection unit in 2017.
Lv An Tang, the main hall of YK Pao's former residence
Today, the former residence preserves the distinctive architectural style of its brick and wood structure, standing as a monument to the patriotic spirit of the overseas 'Ningbo Gang'. Standing before the Lv An Tang, one can almost hear YK Pao imparting his wisdom to his family: "In this world, whether you are a man or a woman, you must learn to be self-reliant and achieve economic independence. Never depend on your parents, family background, or anyone else. To do this, you must read widely, work diligently, and gather knowledge to become self-sufficient." It is perhaps this simple yet profound message that serves as the most valuable spiritual legacy passed down through his old family home to future generations.
