Business
16:35, 10-May-2018
Hong Kong tycoon Li Ka-shing officially retires
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Hong Kong tycoon Li Ka-shing on Thursday officially stepped down as leader of a business empire he built in a span of seven decades.
Stepping down as chairman of CK Hutchison and CK Asset, Li, who will turn 90 in July, will be succeeded by his elder son, 53-year-old Victor Li Tzar Kuoi.
After retirement, he will serve as a senior adviser of the companies and focus on his charity foundation, which was set up in 1980. The changes are in line with his announcement made in March.
"Tomorrow, I will continue to go to office as usual. A lot of work needs to be handled in the foundation," Li said.
Born in July 1928 in Guangdong Province, Li started his career in 1950 as a plastic-flower manufacturer and gradually built a global conglomerate involving real estate, infrastructure, ports and telecommunications.
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Source(s): Xinhua News Agency