The Mystery of Capital

This article was downloaded by: [University Of South Australia Library]

On: 15 May 2014, At: 23:30

Publisher: Routledge

Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered

office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK

Asian Studies Review

Publication details, including instructions for authors and

subscription information:

http://www.tandfonline.com/loi/casr20

The Mystery of Capital: Eurasian

Entrepreneurs' Socio-Cultural

Strategies for Commercial Success in

Early 20th-Century Hong Kong

Victor Zheng a

& Siu-Lun Wong a

a

The University of Hong Kong

Published online: 20 Nov 2010.

To cite this article: Victor Zheng & Siu-Lun Wong (2010) The Mystery of Capital: Eurasian

Entrepreneurs' Socio-Cultural Strategies for Commercial Success in Early 20th-Century Hong Kong,

Asian Studies Review, 34:4, 467-487, DOI: 10.1080/10357823.2010.527919

To link to this article: http://dx.doi.org/10.1080/10357823.2010.527919

PLEASE SCROLL DOWN FOR ARTICLE

Taylor & Francis makes every effort to ensure the accuracy of all the information (the

“Content”) contained in the publications on our platform. However, Taylor & Francis,

our agents, and our licensors make no representations or warranties whatsoever as to

the accuracy, completeness, or suitability for any purpose of the Content. Any opinions

and views expressed in this publication are the opinions and views of the authors,

and are not the views of or endorsed by Taylor & Francis. The accuracy of the Content

should not be relied upon and should be independently verified with primary sources

of information. Taylor and Francis shall not be liable for any losses, actions, claims,

proceedings, demands, costs, expenses, damages, and other liabilities whatsoever or

howsoever caused arising directly or indirectly in connection with, in relation to or arising

out of the use of the Content.

This article may be used for research, teaching, and private study purposes. Any

substantial or systematic reproduction, redistribution, reselling, loan, sub-licensing,

systematic supply, or distribution in any form to anyone is expressly forbidden. Terms &

Conditions of access and use can be found at http://www.tandfonline.com/page/terms￾and-conditions

The Mystery of Capital: Eurasian

Entrepreneurs’ Socio-Cultural Strategies

for Commercial Success in Early

20th-Century Hong Kong

VICTOR ZHENG* and SIU-LUN WONG

The University of Hong Kong

Abstract: Unlike economic capital, which is visible and easy to calculate, social

capital is intangible and difficult to assess. Although both types of capital are

crucial in determining social relations and social behaviour, little solid research

has been done on the latter. This paper attempts to use the rags-to-riches story of

Sir Robert Ho Tung, a first-generation Hong Kong Eurasian entrepreneur who

commenced life without traditional social/cultural capital as the illegitimate son

of a Chinese woman and a Dutchman, to illustrate the processes involved in

cultivating and accumulating social capital. With special reference to economic

development in early colonial Hong Kong and major social transformations in the

Chinese mainland, this paper also demonstrates how a group of so-called social/

racial ‘‘half-caste bastards’’ (Eurasians) were able to form their own social

networks of mutual help and protection. It also considers how they worked to

consolidate, mobilise, aggrandise and transmit their social capital. In conclusion,

it is argued that Eurasians in early twentieth-century Hong Kong constructed

their personal networks like a web, with different interconnecting layers that

functioned at different socio-economic-political levels to serve different purposes.

Keywords: network capital, Chinese family business, business and politics,

Eurasians, Hong Kong commercial history

Introduction

On 26 May 2008, the South China Morning Post reported that ‘‘[a] Las Vegas court

has awarded US$43.8 million to Hong Kong businessman Richard Suen Chi Tat1 as

compensation for his efforts to help casino developer Las Vegas Sands win a Macau

*Correspondence Address: Room 211, Tang Chi Ngnong Building, The University of Hong Kong,

Pokfulam Road, Hong Kong. Email: [email protected]

Asian Studies Review

December 2010, Vol. 34, pp. 467–487

ISSN 1035-7823 print/ISSN 1467-8403 online/10/040467-21 2010 Asian Studies Association of Australia

DOI: 10.1080/10357823.2010.527919

Downloaded by [University Of South Australia Library] at 23:30 15 May 2014