Hong Kong is a leading global financial hub with a service-driven economy accounting for 93.4% of its $369 billion GDP. Family businesses in Hong Kong play a vital role in shaping the city’s economic success, with nearly 70% of listed companies under family control. Many are multi-generational, driving long-term growth and stability. Here are the 10 largest family businesses in Hong Kong by revenue:
10. Chow Tai Fook Jewellery Group
- Annual Revenue: $9.1 Billion
- Controlling Family: Cheng (Yu Tung)
Founded in 1929 by Chow Chi-Yuen, Chow Tai Fook grew from a single jewellery store into one of China’s largest diamond importers. With over 7,600 stores worldwide, the group is chaired by Henry Cheng, following his father Cheng Yu-tung. The Cheng family has nine members actively involved in the business.
9. First Pacific Company Ltd.
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- Annual Revenue: $9.1 Billion
- Controlling Family: Salim
Founded in 1981 by Sudono Salim, First Pacific invests in consumer products, telecommunications, infrastructure, and natural resources. Led today by Anthoni Salim, the firm includes Indofood and PLDT, with third-generation family member Aston Salim serving on the board.
8. Nine Dragons Paper (Holdings) Ltd.
- Annual Revenue: $9.3 Billion
- Controlling Family: Cheung
Established in 1995, Nine Dragons Paper is the world’s largest paper manufacturer by production capacity. Co-founded by Cheung Yan and her husband Liu Ming Chung, the company operates mills and packaging bases in China, Vietnam, Malaysia, and the U.S., producing 18 million tonnes of pulp and paper annually.
7. Sun Hung Kai Properties Ltd.
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- Annual Revenue: $10 Billion
- Controlling Family: Kwok
Founded in 1972 by Kwok Tak-Seng, Sun Hung Kai specializes in residential, retail, and commercial real estate. Raymond Kwok now chairs the company, managing a portfolio including 12.2 million square feet of retail space and generating $2.2 billion in annual gross rental income.
6. Li & Fung Ltd.
- Annual Revenue: $11.4 Billion
- Controlling Family: Fung
Originally a handicraft trading company in 1906, Li & Fung now operates a global supply chain handling millions of consumer goods. Executive Chairman Spencer Fung represents the family’s fourth generation, overseeing operations in 230 offices across 30 locations worldwide.
5. Swire Pacific Ltd.
- Annual Revenue: $11.7 Billion
- Controlling Family: Swire
Founded in 1816 by John Swire, the conglomerate operates in aviation, beverages, healthcare, properties, and trading. Swire controls Cathay Pacific Airways, Hong Kong Express, and Swire Coca-Cola, as well as one of the largest commercial property portfolios in Hong Kong.
4. China Light and Power (CLP Group)
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- Annual Revenue: $12 Billion
- Controlling Family: Kadoorie
Established in 1901, CLP is one of the largest investor-owned utilities in Asia-Pacific. Sir Michael Kadoorie chairs the company, managing operations in Hong Kong, Mainland China, India, Australia, and Taiwan, serving over 5 million customers and maintaining nearly 17,000 km of distribution lines.
3. Shimao Property Holdings Ltd.
- Annual Revenue: $21 Billion
- Controlling Family: Hui
Founded in 2001 by Hui Wing Mau, Shimao Property Holdings focuses on integrated real estate projects, including residential, hotel, and commercial properties. The company has expanded across major Chinese cities, establishing a notable hotels and resorts segment.
2. Jardine Matheson Holdings Ltd.
- Annual Revenue: $37.7 Billion
- Controlling Family: Keswick
Founded in 1832 by William Jardine and James Matheson, Jardine Matheson operates in property investment, motor vehicles, financial services, food retail, and agribusiness across China and Southeast Asia. Fifth-generation family member Ben Keswick serves as chairman and tai-pan of the group.
1. CK Hutchison Holdings
- Annual Revenue: $57.3 Billion
- Controlling Family: Li
Established in 1823 and consolidated under Li Ka-Shing in 2015, CK Hutchison is a global conglomerate spanning ports, retail, infrastructure, and telecommunications. Victor Li succeeded his father as chairman in 2018. The group operates 54 ports worldwide and A.S. Watson Group with over 16,100 retail stores in 28 markets.
