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Some of the biggest conglomerates in the country were founded by Chinese Filipinos, and in Forbes' ranking of the Philippines' richest, many are Chinoys.

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What's the secret to Chinese-Filipino business success?

ANDREA TAGUINES

ABS-CBN News

<p>MANILA - With Chinese New Year just a day away, restaurants and other establishments in Binondo in Manila, are expecting an influx of tourists to the oldest Chinatown in the world.</p><p>Along Tomas Pinpin Street is Toho Panciteria Antigua which has been serving customers since 1888, making it among the oldest restaurants in the Philippines.</p><p>Alger Wong, the third-generation Chinese-Filipino owner, believes customers keep coming back to their restaurant because even if the business gets passed on from generation to generation, and even if the interiors and the feel of the restaurant change as time goes by, the Chinese food they crave for stays the same.</p><p>“Example, soy sauce, same old supplier pa rin. Dahil kung nag-ibang brand po ako, totally, mapapansin ng customer na nag-iba ang lasa,” he said.</p><div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/OLD-TOHO.jpg" style="width:950px" class="fr-fic fr-dib" alt="The old facade of Toho Panciteria Antigua, which claims to be the oldest restaurant in the Philippines. COURTESY: Department of Tourism, Culture and Arts of Manila on Facebook"/><span class="fr-inner"></span></span></span></div><p>The old facade of Toho Panciteria Antigua, which claims to be the oldest restaurant in the Philippines. <em></em><em>COURTESY: Department of Tourism, Culture and Arts of Manila on Facebook</em><em></em></p><div> </div><div><br/></div><div><br/></div><div><strong>WAKING UP AT 4 A.M.</strong></div><p>Wong comes from a line of immigrants from Guangdong, China who came to the Philippines in search of a better life. Apart from the family name and family business, he also inherited the work ethic of his predecessors.</p><p>“‘Yung time ni papa, araw-araw laging maagang gumising, siguro 4 o’clock or 5 o’clock na tipong bihira lang kaming magkita. Paggising ko sa umaga, wala na siya sa bahay. Pag-uwi ko sa bahay, tulog na ako, wala pa siya,” he recounted.</p><p>“Na-experience ko naman ngayon, talagang ganito ang pakiramdam kapag nakatali sa isang family business,” he added.</p><div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/TOHO2.jpg" style="width:950px" class="fr-fic fr-dib" alt="Some of Toho Panciteria Antigua’s classic and best-selling dishes: fried shrimp, yang chao fried rice, kikiam, beef ampalaya, and asado cold cuts. Andrea Taguines, ABS-CBN News"/><span class="fr-inner"><span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline !important">Some of Toho Panciteria Antigua’s classic and best-selling dishes: fried shrimp, yang chao fried rice, kikiam, beef ampalaya, and asado cold cuts. Andrea Taguines, ABS-CBN News</span> </span></span></span></div><p>Alger’s brother, Alvin, meanwhile manages the 5 other branches they have in Parañaque and other areas south of Metro Manila.</p><p>In nearby Ongpin Street, Rolando Wong runs Vege Select formerly known as Quan Yin Chay, a vegetarian Chinese restaurant that was passed on to him by his Chinese father and Filipino mother.</p><p>While he only took over for his parents in 2014, Rolando said he, along with his siblings, had been trained to help out in the family business for as long as he could remember.</p><p>“Wala kaming choice noon e. Naghuhugas kaming pinggan, nagse-serve kami, walis. E yung pinggan hindi na maubos-ubos. Akala mo magpapahinga ka na, andyan nanaman, so kasama yun,” he said.</p><div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/VEGE.jpg" style="width:950px" class="fr-fic fr-dib" alt=" From a simple eatery in the 70s, Vege Select has expanded its vegetarian food offerings including its best-selling xiao long pao, and a street food style grilling section under second-generation owner Rolando Wong. Andrea Taguines, ABS-CBN News"/><span class="fr-inner"><span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"> From a simple eatery in the 70s, Vege Select has expanded its vegetarian food offerings including its best-selling xiao long pao, and a street food style grilling section under second-generation owner Rolando Wong. Andrea Taguines, ABS-CBN News</span> </span></span></span></div><div><strong>RICHEST FILIPINOS</strong></div><p>Toho Panciteria Antigua and Vege Select are just two of the most famous places to visit in Binondo nowadays.</p><p>But even beyond the borders of Chinatown, Filipino Chinese businesses continue to flourish.</p><p>The Federation Of Filipino Chinese Chambers of Commerce &amp; Industry, Inc. (FFCCCII) estimates that about 50 percent of businesses in the Philippines are owned or have links to Chinoy families. </p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="950" height="534" src="https://www.youtube.com/embed/ApgKci0aFM0?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>“Manufacturing, trading, banking, halos lahat e. The Chinese are very well-represented in the economy of the Philippines,” said FFCCCII President Cecilio Pedro.</p><p>Some of the biggest conglomerates in the country were founded by Chinese Filipinos.</p><p>In Forbes&#x27; ranking of the richest Filipinos, the Sy siblings of the SM empire are in the number 1 spot, while San Miguel Corporation President Ramon Ang, Jollibee&#x27;s Tony Tan Caktiong, JG Summit Holdings&#x27; Lance Gokongwei and his siblings, and taipan Lucio Tan are also on the list.</p><div><a href="https://news.abs-cbn.com/business/08/10/23/forbes-wealth-of-philippines-50-richest-rises-11-pct">Forbes: Wealth of Philippines&#x27; 50 richest rises 11 percent</a></div><div><a href="https://news.abs-cbn.com/business/08/11/22/sy-siblings-keep-top-spot-in-forbes-philippines-richest-2022-list" rel="noopener noreferrer" target="_blank">SM empire&#x27;s Sy siblings retain top spot in Forbes Philippines&#x27; Richest 2022 list</a></div><div><strong>BORN ENTREPRENEURS?</strong></div><p>But what makes Chinese Filipinos so successful in the field of business?</p><p>The entrepreneurial spirit was pretty much ingrained in them growing up, said W+B Family Business Advisory Executive Director Enrique Soriano.</p><p>“Their folks, their parents were full-blooded entrepreneurs. Many were probably migrants with nothing except the shirts on their backs so they moved to countries post-World War II with nothing. They were never schooled or educated so the only way to survive was to work,” said Soriano.</p><p>“Doon nila na-embrace yung value of hard work and entrepreneurship,” he added.</p><p>For Pedro, who is Chinese Filipino himself, being a thrifty bunch also had its benefits.</p><p>“They work from Monday to Sunday, walang hinto ‘yan. Walang tulugan, so to speak. It’s just work, work, work, and work. And savings. Whatever they gain or whatever they profit from the market, they save. Kasi alam nila, kung sakaling may problema or emergency, kailangan may pera sila,” he noted.</p><p>As generations passed, Soriano pointed out that their motivations seem to have changed as well from a survival point of view to expansion.</p><p>“Somehow, the (second generation) have considered the Philippines as their home na. So they start investing in real estate, they start institutionalizing their organizations. The previous generation considered their home sa China, ‘we have a business, we won’t buy assets kasi anytime (baka) paalisin kami (ng host country),” he said.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="950" height="534" src="https://www.youtube.com/embed/0REkcFZXxGo?&amp;t=795s&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><strong>A TOUCH OF FENG SHUI</strong></div><p>Another thing that the Chinese Filipino community is known for is their belief in Feng Shui to bring prosperity.</p><p>But Professor Michael Tan, the Program Director of the Ateneo De Manila University’s BS Management Program, said that while many Chinoys abide by such principles for luck, they know the success of their business ventures ultimately boils down to how hard they work.</p><p>“For us, it’s better to believe rather than not. A lot of this would also explain if there will be business failures or mishaps in the business or the family. But I think it’s still the entrepreneur, the hard work of the entrepreneur that will drive it to success. Feng Shui will just add it up, add a little success,” said Tan.</p><p>Tan, who also serves as Assistant Director at the Ateneo Family Business Development Center, added that Chinese Filipinos are also very mindful of the importance of succession planning to ensure the continuity of their business.</p><p>“They were able to prepare the succession planning and currently also preparing the third generation to start employment in their companies. And I see also the Filipino businesses also following some of these good business practices,” he said.</p><p>At the end of the day, experts said, that while these traits are commonly associated with Chinese Filipinos, they are also not exclusive to that community and that the secret to success lies not in your race or the culture you grew up in, but in your sheer grit and determination.</p><div><strong>ADAPTING TO THE SOCIAL MEDIA AGE</strong></div><p>These days, both the owners of Toho Panciteria Antigua and Vege Select said they have been attracting new and younger customers on top of the usual Binondo crowd— something which they say they owe to vloggers and other social media outlets that feature their restaurants.</p><p>“Kailangan natin mag-evolve e, dahil sa mga new generation. Grabe ang social media ngayon, puro mga video, vlogger, photoshoot,” said Alger Wong, who admitted that he himself still has a lot to learn when it comes to promoting his business online.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/5YUp2BkJPIc?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>Rolando Wong said this encouraged him to post his latest business ideas on social media, like the Taiwanese street-food style setup they have going on outside of the restaurant.</p><p>“Very thankful ako sa mga vloggers na nagva-vlog sa mga pwesto namin. Kasi hindi naman kami kilala noon e, kaya medyo pinupuntahan ng tao ngayon,” he said, while looking at the long queue of people waiting to get their hands on some of their grilled vegetarian meatballs and fresh sugarcane juice.</p><p>The FFCCCII also encourages other businesses, whether Chinese or Filipino-owned, to get with the digital times to stay in the game, even if it means handing over the reins to the younger generations.</p><p>“If you’re not using technology, chances are you will not be able to compete properly in the business community. Lahat, pati shopping ngayon ay online, bayaran is online,” said FFCCCII President Pedro.</p><p>“The older generation, hindi na kami techy e. Nahihirapan kami sa technology. So you have to allow the younger generations to step up and step in,” he added.</p>

<p>Some of the biggest conglomerates in the country were founded by Chinese Filipinos, and in Forbes' ranking of the Philippines' richest, many are Chinoys.</p>