Jan. 4, 2007 (China Knowledge) – Hong Kong tycoon Li Ka-shing expects revenues from Mainland projects to almost double in the next five years for his two companies, Cheung Kong Holdings and Hutchison Whampoa.

The entrepreneur, whose wealth is estimated to be over US$20 billion, had said in an interview with Forbes magazine that he foresees revenue for both companies to climb from 8% to at least 15% in the next five years.

Stating that 10% to 12% of his property firm Cheung Kong’s revenue comes from China, Li expects up to 20% of the company’s revenue to flow from China in five years’ time. Hutchison's 2005 annual results show it had total revenues of HK$241.9 billion for the year, with the mainland contributing HK$19.6 billion, while Cheung Kong's 2005 results showed the Mainland contributed 10% to total turnover of HK$14.3 billion.

Li said both his companies have invested a total of more than US$15 billion in China, and is upbeat about China’s growth potential.

On his telecoms firm Hutchison’s suffering losses in the 3G market, he said that he is confident that Hutchison’s 3G business will turn round in the long run, and pointed to Hutchison’s continuing improvement. Li said Hutchison’s 3G business in Italy will be the first to turn profitable.

Looking ahead, Li is optimistic about the pharmaceuticals market in the China mainland, and said that he is looking to partner pharmaceutical companies intending to enter the Chinese market. “Any foreign company in pharmaceuticals, if they want to come to China, if they want a partner, we will be partners,” he told Forbes.