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SZ's ‘son-in-law’
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Han Ximin
JACKSON Tseng, one of the founders of the Min'an Insurance Co Shenzhen Branch, likes to talk about his relationship with this city.
“I didn't expect to stay in Shenzhen for 19 years when I first set my foot in the place in 1981," he says. “Now I call Shenzhen my home and my colleagues and friends often jokingly call me Shenzhen's son-in-law." He said his 19-years in Shenzhen have given him a rare chance to witness the special economic zone's spectacular growth and prosperity.
Tseng was sent here to open a Shenzhen branch of the Hong Kong-based company at the age of 25. At that time, many Hong Kong companies had opened processing companies in Shenzhen. The establishment of the branch was designed to meet their needs.
Though the conditions were poor, people were enthusiastic about their work. Tseng finished his work quickly but consumed too much time finding a decent place to set up shop. In Hong Kong, insurance companies are very particular about their office conditions. At last he rented a two-storeyed building and started his business.
Through two decades of development, his business has expanded to employ nearly 50 employees throughout Guangdong Province while its annual insurance premium income has increased to the current 130 million yuan (US$15.6 million). He also moved from his first shabby headquarters to the Tian'an International Building.
He and his Cantonese wife live in an apartment twice the size of a similarly-priced flat in Hong Kong. A few years ago, Tseng was unable to send his son to study in Hong Kong, for his son couldn't adjust to life there. Shenzhen had a better living environment for outdoor activities, said Tseng.
China's insurance industry has a large potential for development. There are only seven property insurance companies in China including two foreign-funded ones, while Hong Kong is currently home to 200 such companies.
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