Chao Kuang Piu
HF: Chao Kuang Piu (24 November 1920 – 12 March 2021) was a Hong Kong based Chinese industrialist, sometimes referred to as Hong Kong’s ”Wool Magnate” given his involvement in Hong Kong’s garment industry. He was one of the co-founders of Dragonair, Hong Kong’s first Chinese airline, which was subsequently acquired by Cathay Pacific.
Chao Kuang-piu Source : The Hong Standard
Chao was born on the 24th November 1920 in Shanghai. His father was a successful businessman in Shanghai. The family traced its ancestry to Ningbo in Zhejiang province in China. At the age of 17. he had to quit studies when his mother died and his father was critically ill.
In 1950, Chao went to British Hong Kong to set up his business by importing wool spinning equipment from England and starting his wool spinning factory. He set up the garment manufacturing and trading company Novel Enterprises in 1964. His career has been noted for growing the nascent Hong Kong textile industry. He expanded his operations overseas into France, Germany, Portugal and the United States. His companies emerged as one of the world’s largest wool enterprises.
Oriental Pacific Mills at Sheung Kwai Chung, HK, 1966. Founded by K.P. Chao. Source: Land Use Survey, H.K.U. Libraries.
Chao was one of the first few investors in Mainland China, setting up spinning mills, when the Chinese Economic Reforms led by Deng Xiaoping started in the late 1970s. He was referred to as ”Wool magnate” or ”King of Cotton Yarn” given his success in the industry.
Chao was a co-founder of Dragonair Airlines in 1985 with shipping magnate Pao Yue-Kong and Hong Kong based businessman Henry Fok, along with investment from China Merchants Group and China Resources. The carrier was Hong Kong’s first Chinese owned airline. The company was subsequently renamed Cathay Dragon in 2016, and ended in 2020 during the COVID-19 pandemic.(1)
Dragonair and K.P.Chao Source: South China Morning Post
Sources:
- Wikipedia
This article was first posted on 31st March 2025.
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