Cheng Yu-tung Family explained

The Cheng Yu-tung Family refers to a wealthy Hong Kong-based family best known for controlling Chow Tai Fook, via which it also owns New World Development and Rosewood Hotel Group, among other businesses.^[1]

The businesses are currently being led by Adrian Cheng, the third-generation, and has been called by Citigroup research as being "brave and innovative" among other scions in Hong Kong.^[2]

Notable family members

• Cheng Yu-tung (1925–2018); founder of Chow Tai Fook
  • Henry Cheng (b. 1946); chairman of New World Development
    • Adrian Cheng (b. 1979); CEO of New World Development
    • Sonia Cheng (b. 1980); CEO of Rosewood Hotel Group
    • Brian Cheng (b. 1982); co-CEO of NWS Holdings
    • Christopher Cheng (b. 1989); CEO of NWS Modern Logistics Limited
  • Peter Cheng (b. 1952)
    • Conroy Cheng (b. 1977)
    • Conrad Cheng (b. 1979)

Charity

Since 2019, New World has been involved in donating land to build public housing in Hong Kong.^[3]

Businesses

• Chow Tai Fook
• New World Development
• NWS Holdings
• Rosewood Hotel Group (parent company of Rosewood Hotels & Resorts)

References

1. Web site: Shih. Toh Han. 20 March 2015. Third generation moving up at New World Development. 2 October 2021. SCMP.
2. Web site: Sito. Peggy. 14 November 2020. New World's Harvard-educated scion upends Hong Kong developers' 'build and sell' business model as city sits at crossroads. SCMP.
3. Web site: Lam. Ka-sing. 25 September 2019. New World donates almost a fifth of its farmland reserves towards building public homes to ease Hong Kong's housing woes. SCMP.