Relying on foreign books and magazines, the author presents briefly the economic life and social activities of the Hoa people (Chinese people living in Vietnam) in Cho Lon (Ho Chi Minh City) in the late 19th - early 20th century under the French domination. The policy of the French government, on the one hand, aimed to encourage the Hoa people to immigrate and develop the economy and commerce in Cochinchina, on the other hand, to limit the power and competitiveness of the Hoa people to French companies. That policy was only partially successful, because the Hoa people in Cho Lon themselves created a strong economic and political position, and they significantly turned Saigon into the "Pearl of the Far East" in that period of history. The author also recommends the government of Ho Chi Minh City should have the right policies to preserve the cultural heritages of the Hoa people in Cho Lon, and exploit the potentials of those heritages through tourism development.