Ho Yin

Ho Yin ComB (1 December 1908 – 6 December 1983) was a businessman, politician and senior leader of the Chinese community in Macau.

Ho Yin was born in Panyu, in the Pearl River Delta region, 100 km north of Macau on 1 December 1908, when China was still ruled by the imperial family of the Qing Dynasty.

In 1930, he decided to invest in the money changing business, opening a store in Guangzhou.

He was an important diplomatic intermediary between the People's Republic of China and the anti-Communist Estado Novo regime in Portugal, which existed between 1933 and 1974.

Granted in 1937, this monopoly was later awarded to Sociedade de Turismo e Diversões de Macau (STDM) in 1962.

STDM was led by Stanley Ho, unrelated to Ho Yin.

But in 1938, with the invasion of the Japanese to Guangdong, he was forced to move to Hong Kong, where he continued his business in the then British colony.

His half-brother, Ho Tim, was already in business in Hong Kong, and would later become a director of the Hang Seng Bank.

In 1941, the Japanese finally occupied Hong Kong and consequently Ho took refuge in Macau, then a colony of Portugal, who remained neutral during the Second World War.

Shortly after his arrival, Ho, along with other entrepreneurs from Macau and Hong Kong, founded Tai Fung Money Changer Limited in 1942, which initially only carried out monetary transactions, but would later become Tai Fung Bank in 1972.

It was during the Second World War that Ho became rich and famous due to his business in the area of monetary transactions and the lucrative trade in gold, particularly in its major contribution to the stabilisation of the value of the pataca, the local currency, as well advising the Banco Nacional Ultramarino, responsible for issuing the pataca, on financial matters.

At that time, the gold trade in Macau, specifically the import of gold, was controlled by a small group of businessmen from Macau and Hong Kong, including Ho Sin Hang, Cheng Yu Tung, YC Liang, and Pedro José Lobo, as well as Ho Yin.

After the Second World War, the gold trade was one of the most important economic activities in Macau, as Portugal was not then a signatory to the Bretton Woods Agreements, which had fixed exchange rates and restricted international trade in gold.

These agreements also banned the import of gold for individual use and stipulated that each gold troy ounce cost US$35 legally.

Due to the banning and restriction of imports of gold in Hong Kong, covered by the agreements, Macau became one of the international centres unofficial trade (or smuggling) of gold.

Gold smuggling in Macau was monopolised and handled by the Ng Fuk Tong or "Five Good Fortunes Association", itself a subsidiary of Tai Hing Company, the gambling monopoly.

In time, Ho would also gain greater prestige in Macau, especially within the Chinese community; in 1950, he became the President of the Chinese Chamber of Commerce, a post which he held until his death in 1983.

He was also able to resolve conflicts between the various rival Chinese triads in Macau, as he knew all of their leaders, despite never having joined any triad society.

The first major confrontation was the Sino-Portuguese military confrontation in 1952 at the Portas do Cerco border gate.

This erupted following the sales embargo imposed on China by Portugal, under pressure from its Western allies, and a visit by the Portuguese Overseas Minister, Sarmento Rodrigues.

Between 25 and 31 July, a series of conflicts ensued, which left the Portuguese with one dead and twenty injured, and the Chinese with two dead and nine wounded.

Ho formed part of a delegation to Beijing, which was able to secure a written apology and compensation from the Portuguese administration in Macau.

Ho was accorded the status of "special guest" at the Chinese People's Political Consultative Conference from the second session of its National Committee, which was held in Beijing between 30 January and 7 February 1956.

Ho participated in and contributed to the resolution of various disagreements between Portugal and China.

With the death of Pedro José Lobo in 1965, Ho Yin became the most important Macau businessman, holding controlling interests in Macau's only bus and taxi companies, two of its Chinese language newspapers, all ten of its cinemas, five hotels, four banks and a greyhound track, where, in May 1966, he was the target of a grenade attack.

Although he was injured, he survived.

Later, his mansion was watched over by security guards.

The second conflict was the 12-3 incident in 1966, organised by pro-communist Chinese in Macau.

Following the authorities unwillingness to grant permits for the building of a school on Taipa Island, violence broke out between local people and the Macau Police.

This escalated into demonstrations outside the Palácio do Governo, the seat of government, in support of the Taipa residents, shouting slogans and reading aloud from the Little Red Book.

Finally, at 1 pm on 3 December, Red Guards began to riot, denouncing the Portuguese authorities for "fascist atrocities".

On 3 August 1971, Ho was made Commander of the Order of Volunteerism.

Ho began his political career in the early 50s, after the establishment of the People's Republic of China, and became one of the most important political figures and influential Macau.

As the anti-communist and authoritarian Estado Novo regime of António Salazar only recognised Taiwan ruled by Nationalist General Chiang Kai-shek as the "Republic of China", Ho became an important diplomatic intermediary between Lisbon and Beijing.

He kept in close contact with the Chinese Central People's Government and made numerous visits to Beijing, where he often exchanged views on Macau issues with Mao Zedong, Zhou Enlai and many major Chinese Communist Party officials.

He died in Macau on 6 December 1983.

His son, Edmund Ho, became the first Chief Executive of the Macau Special Administrative Region.

His father, Ho Cheng-kai, was a small businessman, owning a small shop in Panyu.

When Ho was only 13, he became an apprentice in a shop in Guangzhou, learning to manage it.

At 16, he moved to Shunde, a traditional centre in the region of the Pearl River Delta, where he became an administrator of a grocer's shop.