Chow Tai Fook group is a Hong Kong–based, privately-owned conglomerate with holdings in the jewellery, property development, hotel, department store, transportation, energy, telecommunications, port,[citation needed] casino, and other businesses.

As of 31 December 2018, New World Development was ranked as the 47th-largest company by market capitalization on the Stock Exchange of Hong Kong, which was HK$105.68061 billion.

The store shifted its business to Portuguese Macau in 1940[5] (some say 1931[7]) and then to British Hong Kong after the breakout of the Second Sino-Japanese War[7] in the 1930s and the establishment of the People's Republic of China in 1949.

[8] Cheng transformed the group into a diversified empire, with interests in jewellery retailing, real estate, hotels, transportation, public utilities, and other businesses.

Chow Tai Fook Jewellery Group, as of 13 October 2016, was the world's second-largest jeweller by [total] market capitalization.

Cheng invented gold with 99.99% purity as a product of Chow Tai Fook Jewellery,[20] which became a standard for industry peers in Hong Kong.

[7] In 1964, Chow Tai Fook Jewellery acquired a license for purchasing diamonds from De Beers, the monopoly supplier at that time.

'Ten thousand year jewellery company') in a building of the same name (Manning House [zh], in Chinese: 萬年大廈) in Central.

[24] In 1989, Chow Tai Fook Jewellery broke the record for the highest price paid for a rough diamond.

Chow Tai Fook Jewellery has played a leading role in its market segment since it foundation, especially in the period since 1997.

[7][27] On 15 December 2011, the jewellery division of Chow Tai Fook group, under new holding company Chow Tai Fook Jewellery Group Limited, was listed on the Stock Exchange of Hong Kong at a price of HK$15 per share[28] under the stock code (ticker symbol) 1929, the year of establishment of the chain.

[29][30] On 23 May 2018, the Gemological Institute of America (GIA) partnered with Chow Tai Fook on a pilot program that will use blockchain to deliver digital diamond-grading reports.

*"shop-in-shop"/"counter-in-shop” excluded[33] Chow Tai Fook Jewellery has fallen victim to major crime a number of times.

[34] In 1974, diamonds worth HK$250,000 were stolen from the staff of Chow Tai Fook Jewellery in Manning House, Central, Hong Kong.

[37][38] In 1985, in front of the Kowloon City branch, a gunfight broke out between the Royal Hong Kong Police and the robbers, in which a policeman was injured.

[39] In 1989, armed robbers disguised as customers stole luxury watches from the Causeway Bay Plaza [zh] branch.

The flagship property, New World Centre was built on the former site of Holt's Wharf, a former godown terminal that was owned by British companies Swire Group and Blue Funnel Line.

[53] The company also formed joint ventures with fellow developer Sun Hung Kai Properties (SHK) and non-profit organisation Tung Wah Group of Hospitals.

[54]: 16 One of the initial rental holdings of NWD, Manning House, was in fact developed by Kin Kiu Enterprises (建僑企業) in 1965.

[55] It was reported that Cheng Yu-tung, patriarch of Chow Tai Fook Jewellery, was one of the directors of Kin Kiu Enterprises at that time.

[52]: 3  According to the news report, the known directors of Kin Kiu Enterprises were Young Chi-wan[55] (楊志雲; notable for King Fook Jewellery and Hotel Miramar), as well as K.W.

However, the sale of NWD to competitor HKBN in 2016 was described by Financial Times as part of "the process of succession planning [of the largest tycoon families of Hong Kong] as the founders reach retirement age or pass away.".

On top of using its own resources, New World Development also partnered with parent company Chow Tai Fook group on a number of redevelopment projects, such as the acquisition of a 90% stake in Kut Cheong Mansion (吉祥大廈) in North Point in the 2010s.

[65] Chow Tai Fook Enterprises, via Sunbig Limited, sold a 40% stake in the aforementioned Kut Cheong Mansion to New World Development for HK$1.779 billion in January 2015.

[73] Goshawk Aviation was a 50–50 joint venture of Chow Tai Fook Enterprises and associate company NWS Holdings.

[100][101] It was reported that the deal was partially financed by loans from 7 financial institutions, including the Bank of China (Hong Kong).

[103] In 2018, Chow Tai Fook Enterprises, via a subsidiary (Chinese: 周大福投资), acquired a 30% share in Yunnan Jinggu Forestry, listed on the Shanghai Stock Exchange.

[104] Listed company International Entertainment Corporation (IEC) was a second-tier subsidiary of Chow Tai Fook Enterprises.

[107] In 2015, the Queensland government regulators approved Chow Tai Fook's involvement with the $3.5 billion Queen's Wharf, Brisbane casino through their investment in Star Entertainment Group; in 2022, a The Weekend Australian's investigative report wrote they had found that the officials let them win the deal despite being aware of Chow Tai Fook's likely links to Triad groups, [108] the ABC News (Australia) then looked into it further, reporting that Chow Tai Fook Enterprises (CTFE) has been linked to Chinese organized crime for decades, but the officials they had reached claimed that they were not aware of this at the time of the afore-mentioned approval.

[109] According to news reports, Chow Tai Fook has run joint ventures in the gambling industry with the high profile figures Ho Hung Sun, Wan Kuok Koi and Chau Cheok Wa; both Wan and Chau are reputedly high level members of the Chinese triad group 14K.