MANILA, Philippines ? Why are the Chinese so good in business? Why are most of the 10 richest men in the Philippines of Chinese blood?

The answer, according to Chinese-Filipinos, is fairly simple. And it lies in the values of perseverance, frugality and good old-fashioned hard work, which most Chinese imbibe from childhood.

Jerry Tiu, whose family owns Kent Vinyl Tiles, recalled how he and his brothers had to forego summer vacations when they were still in school because they had to help out in their father?s hardware store in Binondo, the main base of the Chinese-Filipino community.

?He was already feeding us good food and sending us to a good school, my father would always tell us, so it was now our turn to do our share and help out,? recounted Tiu of his growing up years.

It was a lifelong conditioning that proved hard to shake off, mused this fourth of nine children. Tiu, who is also president of Tagaytay Highlands, recalled how his honeymoon lasted for only one day because he felt it was his duty to be in the office when some newly-acquired machinery in the vinyl factory were being tested.

No, it wasn?t too difficult a choice, he said. He did indulge in a proper honeymoon a week later but going back to work a day after his wedding was an easy decision. Work, among Chinese-Filipinos, is an inextricable part of daily life, Tiu added.

And since the children learn the family business at the feet of their parents, most of them grow up to be entrepreneurs themselves, fulfilling a common observation that Chinese children are taught to be employers while Filipino children are trained to become employees.

The value of frugality is as important. Among the Chinese, it often means living below your means.

Steven L. Ching, chair of the youth committee and the SME Center of the Chinese Filipino Business Club, recounted how he was taught to save for a rainy day because you never know when that day might come.?Our parents taught us that when you earn P10, you spend only P1 so you can put the rest into savings and investments,? said Ching, who also spent weekends and summer vacations tending the family hardware store in Binondo.

Gregorio T. Yu, chief executive of CATS Motors Inc., the exclusive distributor of Mercedes Benz in the Philippines, observed that most Chinese espouse the concept of spending only for what you really need, not for what you want. This is because most Chinese-Filipinos have to work for every peso that they have, especially the older generation who came to the Philippines from China to seek greener pastures.

As Ellen H. Palanca of the Ateneo de Manila University wrote in her paper, ?Public Policy and Ethnic Chinese Businesses in the Philippines,? the accumulation of wealth by the first generation of Chinese who came to the country from the late 1800s to the early 1900s was achieved primarily through thrift and industry.

Recalled Yu: ?I remember my father owning only one pair of good shoes at a time. Since the shoes were still usable, he said, there was no reason to buy another pair.?

But while the Chinese-Filipinos are hesitant to spend their money on ?luxurious? items, they are willing to risk it on new ventures. Taking calculated risks is very much a part of the Chinese culture. The Chinese character for risk is, after all, the same as opportunity. And why not? They have the ready cash and investments at their disposal to immediately strike at opportunities and to quickly adapt to inevitable changes.

For John Gokongwei Jr., founder of the highly diversified Gokongwei group of companies, that great opportunity surfaced after World War II. In his speech before Ateneo?s 2004 graduates, he recounted: ?We lost everything, true, but so did everybody! War was the great equalizer. In that setting, anyone who was willing to size up the situation, use his wits and work hard, could make it!?

From selling some P20 worth of thread, soap and candles in the public market every day, Gokongwei went on to parlay his earnings into other business ventures that have made him one of the richest Filipino in the world today, with interests in the airline business, food manufacturing, banking, retail, real estate development and telecommunications.

The taipan traced his feat largely to hard work, frugality and adapting to changes. ?Success does not happen overnight. It is the small successes achieved day by day that build a company. So do not be impatient or focused on immediate financial rewards. I only started flying business class when I got too fat to fit in the economy seats,? Gokongwei said in his speech. ?Save what you earn and plow it back,? he added.

George K. Ty, founder and chair of Metropolitan Bank and Trust Co., shared the same thoughts when he was named the 2006 Management Man of the Year by the Management Association of the Philippines. ?These days, it is convenient to ignore a simple truth, that the surest way to succeed is to work harder and try harder. People often look for that one lucky break, that right opportunity that they will think will magically guarantee success,? Ty said. ?They would be better served by simply working harder, day in and day out, month by month, year by year,? said the man behind Metrobank, the largest bank in the country today, ?At Metrobank, achievements are not made by grand decisions overnight, but by doing hundreds of important little tasks during the day.? Commitment to hard work and perseverance, Ty concluded, is the true secret of success.