Encyclopedia of India–China Cultural Contacts v1.c5.s3.t4.4

v1.c5.s3.t4.4

Apart from their interests in the opium trade, E D Sassoon Company had a thriving cloth business, importing cloth from Britain and supplying it to the most prominent stores on Shanghai’s Nanjing and Tianjin Roads. They also had a profitable insurance business. From the end of the 19^th century CE, they ventured into manufacturing, setting up spinning and weaving factories, and rice, paper and flour mills as well as breweries. Among their most successful ventures was their involvement in real estate. They controlled the Hua Mao Real Estate Company, Shanghai Real Estate Company and Far East Real Estate Company. Some of the most iconic buildings on the Shanghai Bund were owned by them. They owned among others the Huamao Hotel, Cathay Hotel, Guo Tai Grand Theatre and the grand building they constructed in 1928 known as Sassoon House. In the insecure conditions of China in the 1920s and 1930s, they made huge profits through the issue of shares and bonds. The E D Sassoon Company was also prominent in the business life of Hong Kong although their interests reduced after the beginning of the 20^th century CE.