From Wharves to Wealth

How Trade and Commerce Shaped Hong Kong’s Early Street Names

Hong Kong's daily life continues to reflect its historical maritime trade roots. Whether it's the journeys made possible by companies like Star Ferry (Wharf) and Cathay Pacific (Swire), or the everyday convenience offered by 7-Eleven (Jardines) and Watsons (CK Hutchison, formerly Hutchison Whampoa), or even the awkward phrase ‘I have PayMe-d you’ (HSBC), these companies, all with maritime connections, continue to shape the city's identity.

Continuing from our last exploration into how industries such as fishing and mining have influenced our city's nomenclature, here we delve into a key driver of Hong Kong's economic evolution — maritime trade and commerce.

Making Waves

Hong Kong's strategic location near China has made it one of the world's largest ports. Initially trailing behind Shanghai, Hong Kong's fortunes changed with the 1848 gold rush, which turned it into a pivotal point for Chinese emigrants bound for the United States and Australia. Despite criticism, the controversial coolie trade further fuelled shipping activities, before relocating to Macau and elsewhere.

Between the 1860s and the early 1900s, Hong Kong's shipping industry experienced remarkable expansion, witnessing a more than fourfold increase in the number of ships. This growth was fueled by factors such as population growth, the opening of the Suez Canal, and the establishment of new trade routes. By 1899, Hong Kong had secured a significant 40% of China's total trade, solidifying its position as a key player in global maritime trade.

The Early Birds

The first (illegal) landowners (source: The China Repository)

Following the British occupation of Hong Kong in January 1841, foreign merchants and missionaries in Macau flocked to the newly acquired territory. By April of the same year, basic structures such as matsheds and rudimentary godowns began dotting the city. A mere seven days after Captain Charles Elliot declared Hong Kong a free port in June 1841, the first land sale took place, preceding the Treaty of Nanking which formalised the cession of Hong Kong Island. Foreign trading houses, known as 'Hongs,' acquired land lots along the Wanchai and Central waterfront. Notable buyers included Jardine Matheson & Co. (Jardine) and Dent & Co., both prominent British opium merchants of the time, secured land to establish their headquarters in Hong Kong.

Building Empire

Jardine Matheson's Footprints in Causeway Bay

After the auction, Jardine started constructing warehouses, wharves, offices, and residences, in East Point, now Causeway Bay, establishing one of the first brick and stone structures in the city. Jardine's Bazaar 渣甸街, Jardine's Crescent 渣甸坊, and Yee Wo Street 怡和街, named after Jardine's romanised Chinese name “Ewo” 怡和, were among the first streets built in the area. Jardine's tai-pans held esteemed positions in Hong Kong and the former concessions of Shanghai, with many serving on the executive or legislative council of Hong Kong. Several streets in Causeway Bay bear the names of these individuals, including Matheson Street 勿地臣街, Irving Street 伊榮街, Percival Street 波斯富街, and Keswick Street 敬誠街.

Empire in Causeway Bay: Jardine's offices and godowns at East Point, newly built in 1844 (source: wiki)

Beyond shipping and trade, Jardine also delved into local industries, investing in ventures such as China Sugar Refining Company and Hong Kong Cotton Spinning, Weaving, Dyeing Co. Unfortunately, both enterprises failed, resulting to the conversion of the former into the residential Sugar Street 糖街, while the latter’s land was sold to the French Church for the construction of St. Paul's Convent School complex. Only a small road known as Cotton Path 棉花路 remains from that time.

Post World War II, economic shifts prompted Jardine to sell or redevelop holdings, resulting in developments like Paterson Street 百德新街, named after a former tai-pan, and streets like Houston Street 厚誠街, Cleveland Street 加寧街, and Kingston Street 京士頓街, named after North American cities with trade ties to Jardine.

Fountains of Fortune

The Rise and Fall of Dent & Co.

Dent & Co., the main competitor of Jardine, took a different path. They secured land in Central during the initial auction and erected a building at the crossroads of Pedder Street and Praya Central, now part of The Landmark complex. In Wanchai, Dent & Co. constructed piers and warehouses, engaging in trade with Chinese ports like Xiamen and Shantou. This development led to the establishment of Amoy Street 廈門街 (Xiamen) and Swatou Street 汕頭街 (Shantou) after the area was reclaimed. Dent's opulent residence, complete with a spring fountain, left behind Spring Garden Lane 春園街.

With a penchant for fountains, Dent also generously donated them to the old City Hall and Beaconsfield House in Central during the 1860s. However, the financial crisis of 1866 spelled disaster for several Hongs, including Dent & Co. Acting on early warnings, Jardine managed to avert calamity by withdrawing its balances from the failing bank. Following Dent & Co.'s collapse in 1867, half of its Pedder Street land was sold to the Hongkong Hotel, the city's first luxury hotel, which tragically succumbed to fire in 1926. While Dent & Co. left little mark in that particular area, Glenealy 己連拿利 in Mid-Levels is named after the residence of Dent & Co.'s partner.

Little Docks in Little Bay

P&O's headquarters, featuring a cast-iron verandah, located somewhere in the western part of Hong Kong Island. (source: P&O Heritage)

Before 1841, Hong Kong did not have any shipyards or berth facilities. The closest option was the Peninsular and Oriental Steam Navigation Company (P&O) shipyard in Whampoa, Canton. P&O, which initiated monthly sailings to Hong Kong in 1845, later set up its headquarters in an ornate cast-iron verandah building. This establishment earned the company its Chinese name, ‘Tit Hong’ 鐵行, which translates to ‘Iron House’. Tit Hong Lane 鐵行里 in Central is named after this historical connection.

A pivotal moment for Hong Kong’s shipbuilding industry came with the construction of the Celestial vessel in 1843, transforming Wanchai 灣仔 ('Little Bay' in Chinese) into a hub for small shipyards and warehouses. Emery & Frazer pioneered a slipway, which eventually evolved into the Victoria Foundry by 1868. George Fenwick, a retired British Navy engineer, co-founded Fenwick & Morrison Engineering Co. and acquired the Victoria Foundry in 1880. Fenwick Street 分域街 honoured Fenwick's contributions when the Praya East waterfront was completed in the early 20th century.

Timber yards were also present in the area, with streets like Burrows Street 巴路士街, named after Burrows & Sons, which was once a timber yard, and Mallory Street 茂蘿街, named after timber merchant Lawrence Mallory. Warehouses owned by Hongs, including Augustine Heard & Co. and McGregor & Co., inspired the naming of streets like Heard Street 克街 and McGregor Street 麥加力歌街. Notably, McGregor & Co. built Hong Kong’s first timber pier, replacing the earlier bamboo piers. Jardine, which had many properties scattered throughout the area, influenced the naming of streets such as Landale Street 蘭杜街, Anton Street 晏頓街, and Gresson Street 機利臣街, all named after Jardine's tai-pans. Despite the changes brought about by reclamation over the years, remnants of Wan Chai's original coastline can still be seen in several streets named after vessel types like Ship Street 船街, Schooner Street 捷船街, and Sam Pan Street 三板街.

Dock Wars

During the 1860s, Hong Kong's dockyard landscape transformed from small private docks to larger facilities capable of accommodating substantial vessels. This shift saw the establishment of Lamont Dock and Hope Dock in Aberdeen. The emergence of Whampoa Dock Co. Ltd. and Union Dock Company, and their subsequent merger, played a pivotal role in reshaping the maritime industry in Hong Kong.

(More) Scots United

Whampoa’s Path to Monopoly

In 1863, Douglas Lapraik, a Scottish watchmaker turned shipping agent, teamed up with fellow Scot, Thomas Sutherland of P&O to establish the Hong Kong & Whampoa Dock Company—the first registered company in Hong Kong. Streets such as Douglas Street 德忌利士街, Douglas Lane 德忌利士巷, and Sutherland Street 修打蘭街 were named in honour of the co-founders.

Whampoa Dockyard in 1965 (source: HK Memory)

Whampoa's developments led Dent & Co. to partner with American companies Heard and Hunt. This partnership formed the Union Dock Company (UDC), which had shipyards in Wanchai and Hung Hom. However, intense competition between the two resulted in a merger in 1870. The merger with UDC, the acquisition of the Sands Slip in Kennedy Town (which Sands Street 山市街 was named after), and the Cosmopolitan Dock in Tai Kok Tsui solidified HKWDC's position as a frontrunner in the local dockyard industry.

By the 1880s, the company had expanded its operations across Hong Kong, including the Kowloon Docks, which operated for over a century until its closure in 1980. The legacy of Kowloon Docks lives on in Hung Hom, reflected in Whampoa Street 黃埔街 and Dock Street 船澳街. Streets like Gillies Avenue North 機利士北路, Gillies Avenue South 機利士南路, Dyer Avenue 戴亞街, and Cooke Street 曲街 are named after the company’s tai-pans.

From Sweet to Ship

Taikoo's Industrial Empire

Taikoo Sugar Refinery, 1911 (source: SOAS)

In the early 1900s, Taikoo Dockyard emerged as a major player in the shipbuilding industry. The roots of Taikoo Dockyard trace back to 1872 when Butterfield & Swire Co. established The China Navigation Company. Capitalising on a surge in raw cane sugar trade, Taikoo Sugar Refinery was established in Quarry Bay, leaving behind Tong Chong Street 糖廠街 (Sugar Refinery Street). The area near the foot of Mount Parker, known as Kornhill 康山, named after Ferdinand Korn, became the site of the company residence for the senior manager of the refinery.

In response to the increasing need for their fleet, Taikoo Dockyard was built in 1907 adjacent to Taikoo Sugar Refinery. Street names like Taikoo Shing Road 太古城道, Taikoo Wan Road 太古灣道, and Shipyard Lane 船塢里 reflect the dockyard's legacy, while Finnie Street 芬尼街, Greig Road 基利路, and Greig Crescent 基利坊 were named after the dockyard’s managers.

Aerial shot of Taikoo Dockyard (source: Randomwire)

After World War II, a shift towards property development prompted the merger of Taikoo Dockyard and Whampoa Dockyard, forming Hong Kong United Dockyards in Tsing Yi. Both the Kowloon and Taikoo Docks closed in the 1970-80s and were transformed into large private housing estates – Whampoa Garden and Taikoo Shing.

Wharves, Godowns, and Beyond

The Legacy of Sir Catchick Paul Chater

As the maritime trade continued to flourish in Hong Kong, the development of wharves and godowns played a pivotal role in supporting the bustling port activity. In 1886, Sir Catchick Paul Chater founded The Hongkong & Kowloon Wharf & Godown Co. in Tsim Sha Tsui. With godowns acquired from Jardine and P&O, the company established facilities in Wanchai, Sheung Wan, and the Western District.

Born into an Armenian family in Calcutta in 1846, Chater was an influential figure in Hong Kong's history, playing a crucial role in shaping the city. Starting as a bank assistant, he established his own bills and bullion brokerage business with the support of the Sassoon family. Chater later contributed to the founding of the Star Ferry Company, Dairy Farm, Hongkong Electric Company, and Hongkong Land. He also transformed Hong Kong's waterfront by reclaiming land along the shore of Central, creating 65 acres of new land. Catchick Street 吉席街 in Kennedy Town, Chater Road 遮打道, and Chater Garden 遮打花園 in Central were named in his honour.

In the era dominated by foreign Hongs in maritime trade, Chinese businessmen in Hong Kong primarily engaged in three key industries associated with foreign trade: compradores, transfer houses, and Nam Pak Hongs.

The Inbetweeners

Derived from the Portuguese word for 'buyer,' compradores 買辦 served as intermediaries between foreign Hongs and the Chinese business community. They earned commissions while shouldering responsibilities for bad debts and risks. Typically held by individuals proficient in both English and Chinese, these roles were mainly occupied by Chinese or Eurasians, many of whom later established their own businesses and held prominent positions in society.

HK's Third Largest Ratepayer

1889 map showing the now demolished Kwok Chung Lane situated between Upper Station Street and Sai Street (source: HK Historical Maps)

Kwok A-Cheong 郭亞祥 (also known as 郭甘章、郭松), hailing from Canton's boat-dwelling community, stood as one of the earliest prominent figures in Chinese business. Beginning as a comprador for P&O, he ascended to oversee P&O's shipwright and engineering department, eventually forming his own fleet of steamships. Establishing Fat Hing Hong 發興行, a merchant house in Sheung Wan, Kwok expanded his landholdings significantly. By 1876, he ranked as Hong Kong's third-largest ratepayer, following Douglas Lapraik & Co. and Jardine, Matheson & Co.

Kwok capitalised on the Second Opium War, supplying the British forces and reaping substantial profits. Beyond business, he served as a respected advisor to the government on Chinese community matters and was an original director of the Tung Wah Hospital. While Kwok Chung Lane 郭松里, dedicated to his memory, has been demolished, his legacy endures through Fat Hing Street 發興街 in Sheung Wan, named after his company.

Double Knighted

Sir Robert Hotung, the ‘Grand Old Man of Hong Kong’ (source: SCMP)

Sir Robert Hotung, among Hong Kong's wealthiest individuals, hailed from a compradore background. Born in Hong Kong to a Dutch father and Chinese mother, he identified strongly with his Chinese heritage. After serving as Jardine's Head Compradore in 1894, Hotung embarked on an extraordinary entrepreneurial journey thereafter. Upon leaving Jardine, he built a vast business empire spanning Hong Kong, China, Southeast Asia, Europe, and North America. His ventures encompassed real estate, shipping, food, finance, trade, insurance, entertainment, and hotels. By 1938, he held shares in one fifth of all companies listed in Hong Kong.

Beyond business, Hotung was a generous philanthropist, serving on several influential charitable boards. He received knighthood twice, from King George V and Queen Elizabeth II, a unique honour in Hong Kong's history. Ho Tung Road 何東道 in Kowloon Tong was named after him in recognition of his role in rescuing the Kowloon Tong development project after it went bankrupt in 1928.

Sir Boshan Wei Yuk (source: Baike Sougou)

Sir Boshan Wei Yuk 韋寶珊 (also known as 韋玉) was another notable figure with a compradores background, and was one of the first Chinese individuals to pursue studies in Britain. Educated in England and Scotland, he assumed his deceased father’s role as compradore for the Chartered Mercantile Bank of India, London and China in 1879. Wei emerged as a pivotal supporter of the Chinese community in Hong Kong, holding positions such as chairman of the Tung Wah Hospital board, co-founder of the Po Leung Kuk, and contributing significantly to various committees. He served on the Legislative Council from 1896 to 1917 and became the third Chinese individual in the colony to receive knighthood.

Wei's astute business acumen led him to recognise the financial opportunities presented by the British acquisition of the New Territories in 1898. He advocated early for a railway connecting Hong Kong and Canton, which eventually materialised as the Kowloon-Canton Railway. Po Shan Road 寶珊道 in Mid-Levels was named after him.

Pot Of Gold

During the gold rush, Chinese laborers flocked to San Francisco, known as 'Old Gold Mountain 舊金山', and Melbourne, dubbed 'New Gold Mountain 新金山'. This surge in migration fueled demand for Chinese goods abroad, prompting the establishment of 'Gold Mountain House 金山莊' in Sheung Wan. These transfer houses provided essential services like lodging, ticketing, and remittance for workers, while also trading in food, medicines, and local products.

Conversely, Nam Pak Hongs 南北行 (South-North Houses) emerged to facilitate trade between Southeast Asia (South) and the Chinese mainland (North), aiding Chinese merchants in exchanging Chinese products and importing foreign goods into China. Concentrated around Bonham Strand East and West in Sheung Wan, these businesses shaped the area's identity and economic activity.

Coolie Trade and Theatre

Li Sing 李陞 (also 李璿), a Guangdong native, was a prominent businessman in the 19th century. Fleeing the turmoils of the Taiping Rebellion in 1857, he settled in Hong Kong where he co-founded a shipping business catering to passengers bound for California and Australia. Initially involved in then-legal activities like coolie and opium trades, he later expanded into labour recruitment and import-export trading in Nanyang. Shifting his focus to property development, Li capitalised on Governor Kennedy's urban development initiatives, acquiring significant land in Sheung Wan and the Western District.

In addition to real estate and trading, Li ventured into modern enterprises. He founded the On Tai Marine Insurance Company, the first Chinese enterprise to join the Hong Kong General Chamber of Commerce, and invested in telegraph and mining businesses. Li also co-founded institutions such as the Tung Wah Hospital and the Po Leung Kuk. Upon his death in 1900, his estate was valued at six million Hong Kong dollars, three times the annual revenue of the colonial government.

Li Sing Street 李陞街 and Ko Shing Street 高陞街 in Sai Ying Pun honour the contributions of Li Sing. Ko Shing Street was named after Ko Shing Theatre 高陞戲院, Hong Kong's second indoor theatre owned by Li Sing. Li Sing's family legacy includes Li Po Lung Terrace 李寶龍臺, named after his fourth son, Li Chit Street 李節街 in Wan Chai after his brother and business partner, and The Li Po Chun United World College after his youngest son.

Revolutionary Insurance King

Lee Yuk Tong (source: Institute For Sun Yat-sen Studies)

The first street in colonial Hong Kong named after a Chinese individual honours Toishan merchant Lee Yuk Tong 李煜堂. He was a pivotal figure in foreign trade and co-founded the Bank of Canton, the city's first Chinese-owned bank. After an upbringing in San Francisco, Lee migrated to Hong Kong and established Kam Li Yuen 金利源, importing Chinese medicine from North America during the Gold Rush. In 1902, he founded The China Hong Nin Life Insurance Company Limited, paving the way for multiple insurers and popularising life insurance among the Chinese, challenging foreign insurance monopolies and earning him the title "Insurance King."

Lee's influence extended beyond commerce. He played a crucial role in revolutionary movements, notably the Xinhai Revolution and the boycott of American goods. Joining the Tongmenghui in Hong Kong, he operated his shop as a clandestine liaison office for Xinhai Revolution activities.

In 1894, Lee invested in newly reclaimed land in Central, shaping the area that eventually became Li Yuen Street East 利源東街 and Li Yuen Street West 利源西街, named after Lee's businesses.

The Emperor of Sham Shui Po

Sham Shui Po Chinese Public Dispensary — one of the few Art Deco buildings left in Hong Kong (source: HKJC)

Wong Yiu Tung 黃耀東, another emigrant from Toishan, made a significant impact in Kowloon’s urban development. After making his fortunes working in a transfer house, Wong ventured into various businesses such as gold and silver trading, ice production, timber, shipbuilding, restaurant and theatre. His extensive investments in Sham Shui Po earned him the title "Sham Shui Po Emperor '' among the locals.

In 1936, he funded the construction of the Sham Shui Po Chinese Public Dispensary (located on Yee Kuk Street 醫局街), and co-established a steamship route linking Sham Shui Po to Central, enhancing connectivity with Hong Kong Island. Wong also sponsored schools for underprivileged children and made significant donations to secondary education. He served as chairman of Po Leung Kuk for four terms and was appointed a Justice of the Peace. In honour of his contributions, Yiu Tung Street 耀東街 was named after him.

Banking Beginnings

From Barter to Bucks

When Hong Kong became a free trading port, no local currency was available for everyday circulation. Instead, people used a mix of foreign currencies like Indian rupees, Spanish and Mexican 8 Reales, Chinese cash, silver taels, and British pounds. It wasn't until 1863 that coins specifically for Hong Kong were minted by the Royal Mint in London. These coins bore the portrait of the reigning monarch and came in silver and bronze.

In the late 1860s, there was an attempt at local coin production at the Hong Kong Mint in Causeway Bay, but it didn't gain much traction. The Mint closed in 1868, and its site was later acquired by Jardine Matheson, eventually becoming the China Sugar Refinery Co. Despite Royal Mint Street disappearing by the 1890s, an inconspicuous street named Pennington Street 邊寧頓街 commemorates this overlooked history. James Pennington, despite his significant contributions to banking, monetary policy, and international trade, is relatively unknown today. His work addressed issues like coin shortages and gold overvaluation, as well as analysing currency systems in British colonies.

The World’s Local Bank

As shipping and trade grew, so did related industries like bullion brokerage, insurance, and banking. At first, only foreign bank branches existed in Hong Kong but with increased trading activities, the demand for a local bank in Hong Kong became clear.

In mid-1864, HSBC (The Hongkong and Shanghai Banking Corporation) traces its origin to a group of British financiers in Bombay who aimed to establish a new bank in Hong Kong. Upon hearing this, Thomas Sutherland of P&O and lawyer E.H. Pollard spearheaded the drafting of a prospectus for a competing bank in Hong Kong. They received support from influential figures such as Douglas Lapraik and the tai-pans of Dent and Co., Augustine Heard, as well as those of John Burd & Co. and Gilman & Co. (namesakes of Burd Street 畢街, Gilman Street 機利文街, and Gilman's Bazaar 機利文新街).

A Provisional Committee of 13 managed to raise $5 million within a week, marking the inception of HSBC and the early downfall of its competitor bank. Initially, Jardine Matheson abstained due to its reluctance to collaborate with Dent & Co., its main rival, and to safeguard its foreign exchange business. However, once HSBC had firmly established itself, a partnership was formed with Jardine Matheson in 1877. Notable figures from Jardine Matheson, including J.J Bell-Irving, James Johnstone Keswick, and David Landale, who are commemorated in the streets mentioned earlier, later became chairmen of HSBC's board of directors. Notably, John Johnstone Paterson served three terms in this capacity.

Other roads with historical connections to HSBC include Forbes Street 科士街 in Kennedy Town, named after William Forbes, chairman of Russell & Co., who also served two terms as chairman of the HSBC board of directors. Additionally, Jackson Road 昃臣道 is named in honour of Thomas Jackson, who became the bank’s third chief manager at the young age of 35 in 1876.

Wardley House, the first HSBC office in 1865 (source: HSBC)

The World’s Asian Bank

The Bank of East Asia (BEA) was founded in 1918 by influential Chinese businessmen in Hong Kong, echoing the beginnings of HSBC. BEA aimed to merge Eastern and Western banking traditions by embodying the characteristics of a Chinese family-run bank while embracing modern accounting and banking methods. The founders of BEA had strong ties to prominent companies like Nam Pak Hong, transfer houses, and various industry firms, which helped them establish a robust business network in Hong Kong. This network became pivotal to BEA's success. By the late 1920s, BEA had expanded its footprint globally, with agents in cities such as Beijing, Tokyo, Singapore, Bombay, Sydney, London, Paris, New York, San Francisco, and Honolulu.

Among the co-founders, Sir Shousan Chow, a revered businessman and community leader, held a prominent role as the first Chinese member of the Executive Council. Chow, originally from Wong Chuk Hang, was part of the third group of Chinese students sponsored by the Qing government to study in the United States. In addition to co-founding BEA, he occupied various diplomatic positions and served as a director for numerous companies, including the Hongkong Electric Company, Hongkong Telephone Company, Hongkong Tramways, A.S. Watson’s, and the Hongkong and Yaumati Ferry Company. Notably, Chow played a significant role in the attempted development of the land that eventually became Kai Tak International Airport, collaborating with Sir Boshan Wei Yuk and other Chinese businessmen. Upon his retirement, the Hong Kong government honored his dedicated service by naming the hill where his residence stood Shouson Hill 壽臣山 and the surrounding road Shouson Hill Road 壽山村道.

Take a Look

Exploring Hong Kong's maritime history reveals both its industrial development and the people who steered its course. Companies like Jardine Matheson and Swire left significant imprints on the cityscape, while compradores and transfer houses streamlined transactions, playing a crucial role in shaping early Chinese communities. By tracing Hong Kong's monetary history, from its diverse currency origins to the establishment of local banks such as HSBC and the Bank of East Asia, we uncover a story of perseverance. This history highlights not just economic growth, but also the enduring spirit of enterprise and cultural exchange that defines the city today.

Explore the map below to see how maritime trade and commerce have influenced our street names.

Trade and Commerce · Streets of Hong Kong