Chao Kuang Piu
Chao Kuang Piu | |
|---|---|
| Born | November 24, 1920 Shanghai, China |
| Died | March 12, 2021 (aged 100) |
| Occupation(s) | Industrialist, entrepreneur |
| Known for | Founder of Novel Enterprises; co-founder of Dragonair; "Wool Magnate" |
Chao Kuang Piu SBS (; 24 November 1920 – 12 March 2021) was a prominent Chinese industrialist based in Hong Kong, widely recognized as the "Wool Magnate" due to his significant influence on the garment sector. He played a pivotal role in establishing Dragonair, Hong Kong's inaugural Chinese-owned airline, which was subsequently acquired by Cathay Pacific. In 2002, Chao was honored with Hong Kong's prestigious Silver Bauhinia Star.
Biography
Chao was born in Shanghai on 24 November 1920 into a business family originally from Ningbo, Zhejiang. He discontinued his formal education at the age of 17 because of health concerns within his family.
In 1950, Chao relocated to British Hong Kong and initiated a wool-spinning operation utilizing machinery imported from England. He established Novel Enterprises, a garment manufacturing company, in 1964 and became instrumental in advancing Hong Kong’s textile industry. During the 1970s, he expanded his operations internationally to countries including France, Germany, Portugal, and the United States, developing one of the globe’s largest wool enterprises. As an early investor during Mainland China's economic reforms in the late 1970s, he set up spinning mills there. His achievements earned him nicknames such as "Wool magnate" and "King of Cotton Yarn."
In 1985, alongside shipping tycoon Pao Yue-Kong, businessman Henry Fok, and investors like China Merchants Group and China Resources, Chao co-founded Dragonair. This airline marked the first Chinese-owned carrier in Hong Kong and was acquired by Cathay Pacific in 2006. The airline was rebranded as Cathay Dragon in 2016 but ceased operations in 2020 due to the impact of the COVID-19 pandemic.
Chao held the position of honorary chairman for the Wharton School's Global Alumni Forum in Hong Kong and served as chairman of Novel Enterprises Ltd. He also occupied leadership roles within Dragonair and contributed to Hong Kong’s Consultative & Selection Committee. Moreover, he acted as honorary consul for the Republic of Mauritius in Hong Kong and provided academic guidance to Tsinghua University and Ningbo University. He was also an honorary professor at Zhejiang University.
Personal life
Chao’s daughter, Susana Chou, became the inaugural President of the Legislative Assembly of Macau within the Macau SAR. His son, Silas K. F. Chou, serves as a director at Novel Enterprises, which owns leading fashion labels Tommy Hilfiger and Michael Kors. His granddaughter is socialite Veronica Chou. The eldest son, Ronald Kee-Young Chao (, born 1939), also a director at Novel Enterprises, founded the Bai Xian Scholarship program based in Hong Kong.
Chao passed away at the age of 100 on 12 March 2021 at Hong Kong Adventist Hospital – Tsuen Wan.
Honors and awards
- The asteroid 4566 Chao Kuang Piu was named in his honor by the Purple Mountain Observatory
- Recipient of the Silver Bauhinia Star from the Hong Kong government in 2002
- Awarded the Wharton School Dean's Medal by the Wharton School of the University of Pennsylvania