Li said that for his Group it was most important that the business they engaged in earn foreign currency and create employment opportunities. The Cyberport project has been a much talked about topic for a long time. But actually, there had not been many people in Hong Kong interested in high tech businesses. "We must understand that Hong Kong cannot survive on property alone. Property is important for the domestic economy, but don't forget, foreign investment in our property market accounts for not more than 5%. So what can we depend on to earn foreign currency and attract foreign investors?" Li continued, nowadays industries in general find it difficult to survive, trade is on the downside, container terminals are affected by competition from mainland ports, and even tourism has been hit. It is important to establish other key industries to attract foreign capital.

Li recently retired from his post as Managing Director of Cheung Kong but remains as its Chairman. He will gradually reduce his workload and let his eldest son Victor take over the reins. Li senior, however, will still be consulted on major decisions. Li continues to head Hutchison Whampoa, but he is also hatching new plans.

At 71 years old, Li is about to write a new chapter in the legend of Li Ka-shing. He is determined to challenge the saying that "wealth does not pass down three generations" in Chinese families. He is trying to systemize the running of his business empire and incorporate his own personal management philosophy so that both his business and his philosophies will live on forever.

"Don't believe that Chinese learning is for foundation and Western learning is for application. Chinese learning can also be applied," Li said, quoting a Qing Dynasty saying. He commented that it was necessary to have a system of reward and punishment, and to make good use of talent, but most importantly there must be checks and balances within the system. He cited Barings as an example. Years ago, a hole in the Group's operations in Singapore allowed one of its traders to lose a huge sum. This was the fault of not only the individual trader, but of the system itself.

An organization must be complemented by professional and human management. Li pointed out that the turnover rate among his staff is very low, which can be attributed to the sense of belonging that he instills in his staff. "Even when they retire, both the organization and the staff feel sad."

Has Li ever fired anyone? The answer is yes. Sitting in his large office at the new Cheung Kong Center in Central, Li recalls a former middle rank manager who was discovered to have made personal gains using his authority. His conduct was commercially and legally unacceptable. Li had no choice but to ask him to leave because it was a matter of principle.