logo
Hong Kong's business, political elite turn out for funeral of property Lee Shau-kee

Hong Kong's business, political elite turn out for funeral of property Lee Shau-kee

HONG KONG (AP) — Prominent Hong Kong political and business leaders paid tribute Monday to the city's late billionaire property tycoon Lee Shau-kee, who led one of the biggest real estate empires in the former British territory.
Lee, who died at age 97 on March 17, was once ranked as the richest man in Asia. In Forbes' February ranking, he was listed as the city's second-richest person with $29.2 billion in assets.
Lee founded Henderson Land Development Co. Ltd. in 1976, and his empire helped shape the Asian financial hub's skyline. The company's portfolio includes landmarks such as the International Finance Centre complex and ifc mall in Central, a vibrant commercial district. His business interests also expanded into other sectors such as hotels, utilities and ferries in the city.
Nicknamed 'Uncle Four,' Lee was ranked the richest person in Asia and the world's fourth-wealthiest person by Forbes in 1996. He was Henderson Land's chairman and managing director before stepping down from the position in 2019. He was succeeded by his sons, Peter Lee and Martin Lee, the company's co-chairpersons.
Like other tycoons, who rose in the city's postwar economic boom and then thrived as mainland China abandoned orthodox Marxism, Lee met with former top Chinese leaders, including Deng Xiaoping and Jiang Zemin. In 2007, a decade after the end of British colonial rule, the Hong Kong government awarded him the Grand Bauhinia Medal in recognition of his outstanding contributions to education and community service.
According to Henderson Land, committee members overseeing his funeral included Hong Kong's leading official, John Lee, former city leaders Tung Chee-hwa and Leung Chun-ying, and Zheng Yanxiong, director of Beijing's liaison office in Hong Kong. Other business and political heavyweights were also part of the committee.
On Sunday, Zheng, Lee and other former and current government officials, as well as Richard Li, the younger son of Hong Kong's richest person Li Ka-shing, and property tycoons Thomas Kwok and Raymond Kwok, paid their respects to Lee during a vigil.
During Elections
Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election.
Buddhist rites were performed during the service on Monday. His body will be transported to his ancestral homeland in Shunde district, Guangdong province, the coastal region in southern China across from Hong Kong where Lee, like so many top Hong Kong business leaders, was born. He moved to the city in 1948, one year before the communists swept to power in mainland China, targeting land owners as they went, and became a key player in the city's real estate industry.
Known as Hong Kong's 'Warren Buffett' for his investment acumen, he was also a leading philanthropist who contributed significantly to the development of both Hong Kong and mainland China.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

U.S., China have agreed on framework to resolve their trade disputes
U.S., China have agreed on framework to resolve their trade disputes

Toronto Sun

time21 minutes ago

  • Toronto Sun

U.S., China have agreed on framework to resolve their trade disputes

Published Jun 10, 2025 • 2 minute read This combination of pictures created on June 4, 2025 shows, L/R, Chinese President Xi Jinping at the Great Hall of the People in Beijing on May 13, 2025 and US President Donald Trump in the Oval Office of the White House in Washington, DC, on May 30, 2025. Photo by TINGSHU WANG,ALLISON ROBBERT / AFP via Getty Images LONDON — The U.S. and China have agreed in principle on a framework to carry out an agreement they reached on resolving their trade disputes last month, Chinese state media said. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The announcement followed Tuesday's conclusion of two days of talks in London. The earlier agreement had been shaken by a series of disputes in the ensuing weeks, leading to a phone call last week between President Donald Trump and Chinese leader Xi Jinping to try to calm the waters. Li Chenggang, a vice-minister of commerce and China's international trade representative, said the two sides had agreed in principle on a framework for implementing the consensus reached between the two leaders and at talks in May in Geneva, the official Xinhua News Agency said. Further details, including plans for a potential next round of talks, were not immediately available. Li and Wang Wentao, China's commerce minister, were part of the delegation led by Vice-Premier He Lifeng. They met with U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer at Lancaster House, a 200-year-old mansion near Buckingham Palace. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Lutnick said as he arrived Tuesday morning that the talks were 'going well,' and he expected them to continue all day. RECOMMENDED VIDEO Asked late Monday how the negotiations were going, Trump told reporters: 'We are doing well with China. China's not easy.' The two sides sought to build on negotiations in Geneva last month that agreed to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession. Since the Geneva talks, the U.S. and China have exchanged angry words over advanced semiconductors that power artificial intelligence, visas for Chinese students at American universities and rare earth minerals that are vital to carmakers and other industries. This advertisement has not loaded yet, but your article continues below. Trump spoke at length with Xi by phone last week in an attempt to put relations back on track, then announced the trade talks would resume in London. China, the world's biggest producer of rare earths, has signalled it may ease export restrictions it placed on the elements in April, alarming automakers around the world who rely on them. Beijing, in turn, wants the U.S. to lift restrictions on Chinese access to the technology used to make advanced semiconductors. Trump said that he wants to 'open up China,' the world's dominant manufacturer, to U.S. products. 'If we don't open up China, maybe we won't do anything,' Trump said at the White House. 'But we want to open up China.' — Associated Press writer Josh Boak in Washington and Ken Moritsugu in Beijing contributed to this story. Read More NHL Columnists Editorial Cartoons Toronto Blue Jays Columnists

Court rules Trump's tariffs can stay in effect while appeal proceeds
Court rules Trump's tariffs can stay in effect while appeal proceeds

Toronto Sun

time30 minutes ago

  • Toronto Sun

Court rules Trump's tariffs can stay in effect while appeal proceeds

Published Jun 10, 2025 • 1 minute read President Donald Trump gestures as he speaks with reporters after announcing a trade deal with United Kingdom in the Oval Office of the White House, Thursday, May 8, 2025, in Washington. Photo by Evan Vucci / AP WASHINGTON — U.S. President Donald Trump's tariffs on most countries around the world can remain in place while a federal appeals court decides on their future. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The U.S. Court of International Trade ruled the duties were unlawful last month. The lower court ruled that Trump's use of an emergency powers law to impose his 'Liberation Day' reciprocal tariffs exceeded his authority and his fentanyl-related tariffs against Canada didn't target the issue. Read More The decision blocked the devastating duties but the Trump administration filed emergency motion to stay the trade court's ruling soon after. The U.S. Court of Appeals decision Tuesday night keeps in place the Trump administration's request to pause the trade court's ruling until there is a full hearing. That means countries around the world, including Canada, continue to be slapped with Trump's tariffs. RECOMMENDED VIDEO NHL Columnists Editorial Cartoons Toronto Blue Jays Columnists

Newsom says ‘democracy is under assault' in response to Trump's military deployment in LA
Newsom says ‘democracy is under assault' in response to Trump's military deployment in LA

Toronto Star

time31 minutes ago

  • Toronto Star

Newsom says ‘democracy is under assault' in response to Trump's military deployment in LA

LOS ANGELES (AP) — California Gov. Gavin Newsom said President Donald Trump is 'pulling a military dragnet' across Los Angeles during a brief public address on Tuesday. The Democratic governor's remarks come after Trump ordered the deployment of nearly 5,000 troops, including National Guard and Marines, to the nation's second-largest city. They were deployed to protect federal buildings but are now also protecting immigration agents as they carry out arrests.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store