Together with his brother William, he owns a controlling stake of 32% in the business, which was founded by his grandfather.

He has held a number of public and other offices, including chairman of the Airport Authority Hong Kong, Hong Kong University Council and the Greater Pearl River Delta Business Council.

[citation needed] Fung is chairman of the Hong Kong-Japan Business Co-operation Committee and co-chair of France-based The Evian Group at IMD forum and think tank.

[citation needed] In 2008, Fung was appointed by Donald Tsang, the Chief Executive of Hong Kong, to be the member of "Task Force on Economic Challenges" to evaluate the situation and identify new opportunities during the financial tsunami.

[3] Other positions in civil and public service: Fung is married with three children and like his brother William holds American citizenship.