Dr Kenneth Fang Hung GBS CBE JP (Chinese: 方鏗; November 20, 1938 - August 28, 2022) was a Hong Kong billionaire industrialist and philanthropist. He was known as the "King of Textiles".[1][2]
Dr Kenneth Fang | |||
|---|---|---|---|
方鏗 | |||
| Born | November 20, 1938 | ||
| Died | August 28, 2022 (aged 83) | ||
| Nationality | Hong Konger | ||
| Alma mater | University of Michigan Massachusetts Institute of Technology | ||
| Occupation(s) | Businessman, philanthropist | ||
| Children | Katherine Fang (Daughter)
Susanna Fang (Daughter) Jean Fang (Daughter) Douglas Fang (Son) | ||
| Relatives | Vincent Fang (Brother) | ||
| Chinese name | |||
| Chinese | 方鏗 | ||
| |||
Early Life
editFang was born on November 20, 1938 in Xiaohai Town, Nantong City, Jiangsu Province. He lived in Hong Kong from the 1950s onward. For his early education, he graduated from Pui Ching Secondary School in 1956. Fang received a Bachelor of Science in chemical engineering from the University of Michigan and a Masters of Science in chemistry from the Massachusetts Institute of Technology.
Family Background
editThe Fang family with roots in Haimen, Nantong, Jiangsu, China has long had a prominent position in Hong Kong.
Fang's father, Fang Shui Chow (Chinese: 方肇周), made his first fortune in the yarn trade in Shanghai. Fang Shui Chow later moved to Hong Kong on the eve of the Communist takeover and founded S.C. Fang & Sons in 1949, which was "Hong Kong’s largest textile maker".[3] He was regarded as one of the pioneers of Hong Kong's 20th century industrial boom. Fang's brother is Vincent Fang, a Hong Kong businessman and notably the former chairman & leader of the Liberal Party of Hong Kong.
Career
editFang reportedly joined his father's textile-making business, S.C. Fang & Sons, for one year. Fang was best known as the chairman of Fang Brothers Knitting Limited (Chinese: 肇豐針織), which he founded in 1965 and became one of the largest garment manufacturers in the world.[4] As of 2002, the firm operated 25 factories across the globe and employed over 25,000 workers, producing over 30 million pieces of high quality knitwear annually. [5]
Fang was regarded as the leader of Hong Kong's textile & garment industry for his contributions. During the 1980’s, he led and successfully defended Hong Kong against a case raised by the US Department of Commerce on a US Anti-Dumping Duty Order against MMF Sweaters from Hong Kong. In 1999, he chaired the Textiles and Garment Industry Revitalisation Committee and established a plan to strengthen Hong Kong’s position as a world fashion & design hub, which was implemented by the Hong Kong government in 2000. In 2001, he led the establishment the Hong Kong Fashion and Design Centre.[5]
Fang was also the chairman of Fang Brothers Holdings Limited, a privately-held investment holding company with interests in manufacturing, property development, consumer & retailing, energy storage, and electronics.[6][7] In 1997, he acquired and served as the chairman of Yeebo International Holdings (SEHK: 259). [8][9] In 2000, he acquired the knitwear brand Pringle of Scotland.[10] In 2009, he sold the Shanghai-based hypermarket chain Times Ltd for US$630 million to Lotte Shopping, which remains the largest acquisition of a Chinese company by a Korean firm to date.[3][11][12]
Fang was an independent non-executive director of Wing Tai Properties Limited, Jiangsu Expressway Company Limited, and Nan Hai Corporation Limited.[13] He was also a non-Executive Director of the Hongkong and Shanghai Banking Corporation.
In 2009, his fortune was estimated at 10 billion Yuan (US$1.6 billion).[14][15]
Political positions
editFang was a member of the National Committee of the Chinese People’s Political Consultative Conference, and a member of the Standing Committee of Chinese People’s Political Consultative Conference of Jiangsu Province.
Some of his past appointments include:[13][16]
- Chairman of the Hong Kong Productivity Council
- Chairman of the Hong Kong Research Institute of Textiles and Apparel
- Honorary Chairman of the Hong Kong General Chamber of Textiles
- Honorary Chairman of the Hong Kong Textile Council
- Member of the Election Committee (Hong Kong)
- Member of the Hong Kong Affair Advisers to Beijing
- Member of the Textile Advisory Board of the Hong Kong Government
Awards and recognition
editThe Hong Kong SAR Government awarded Fang the Gold Bauhinia Star, the Commander of the Most Excellent Order of the British Empire, and the Justice of the Peace.
He was also awarded the Industrialist of the Year by the Federation of Hong Kong Industries in 2002, Honorary Citizen of Nantong in 2004, Honorary University Fellow by the University of Hong Kong in 2002, Honorary Degree of Doctor of Business Administration by the Hong Kong Polytechnic University in 2005, the Outstanding Leader in Business by the Sing Tao News Corporation in 2011, as well as a Honorary Doctorate in May 2014 by the Nanjing University.
Personal life
editFang was married to Diana Bin since April 1967, with three daughters and one son, Katherine, Susanna, Jean, and Douglas. He lived on Osmanthus Road, Kowloon Tong.
Since 1990 he has donated more than $100 million to his hometown, Nantong, and mainland China.
References
edit- ^ "In Memoriam: Dr. Kenneth Fang Hung, GBS, JP | HKBU Foundation". foundation.hkbu.edu.hk.
- ^ "麻省理工學霸 紡織起家卻出售65家超市給樂天 如今坐擁10億身家".
- ^ a b Flannery, Russell. "What Slowdown?". Forbes.
- ^ "Cutting-edge design, a media blitz – just look at fusty old Pringle now".
- ^ a b "Industrialist of the Year Award | Past Awardees | Federation of Hong Kong Industries". www.yiah.org. Archived from the original on 2024-06-23. Retrieved 2024-12-12.
- ^ "Named Professorship at HKUST". np.hkust.edu.hk. Retrieved 2024-11-25.
- ^ "香港回归20周年，"纺织大王"方铿的故事". www.sohu.com. Retrieved 2023-07-18.
- ^ "Fang to take helm at Yeebo after restructure". South China Morning Post. 1997-04-19. Retrieved 2023-01-27.
- ^ "Yeebo white knight to save face as well". South China Morning Post. 1997-03-24. Retrieved 2023-01-27.
- ^ "Hong Kong magnate poised to buy Pringle". HeraldScotland. 2000-02-14. Retrieved 2023-05-23.
- ^ "South Korea's Lotte To Expand In China". Forbes. Retrieved 2022-12-03.
- ^ "针织大王套现过冬 时代零售或许是方氏家族度过此轮危机最有力的后盾_滚动新闻_新浪财经_新浪网". finance.sina.com.cn. Retrieved 2023-07-18.
- ^ a b "Webb-site Who's Who: Fang, Kenneth Hung 方鏗". webb-site.com. Retrieved 2023-05-23.
- ^ Yumpu.com. "China Textile News 23 March 2012 - Textination". yumpu.com. Retrieved 2024-11-25.
- ^ "香港纺织大王门前宝马遭纵火 否认与人结怨(图)". www.chinanews.com.cn. Retrieved 2022-11-03.
- ^ "Mr Kenneth FANG Hung - Honorary University Fellows - Honorary University Fellowships". www4.hku.hk.