of Singapore-based Pacific Century Regional Developments Limited starting in 1994, a role he still held in 2020. PCCW and HKT Trust In 1996, Li established Pacific Century CyberWorks (PCCW). Serving as the company's chairman starting in 1999, he remained chairman when the company changed its name to PCCW Ltd. in 2002. In his early financial dealings with PCCW, his Canadian citizenship allowed him to bid on companies such as Air Canada and Bell Canada Enterprises without running afoul of restrictions on foreign ownership. PCCW acquired Cable & Wireless HKT for US$38 billion in 2000, in "what was then Asia's largest corporate takeover." The acquisition made PCCW the largest fixed-lined network and wireless operator in Hong Kong. Li joined the board of the Bank of East Asia in 2001, retaining the role until 2017. In 2004, he created the property company PCPD, or Pacific Century Premium Developments, as a spinoff from PCCW, and was chairman of PCPD from 2004 until 2019. As chairman of both PCCW and PCCW's executive committee, in 2011 Li was involved in the spinoff and initial public offering of PCCW's telecommunications assets on the Hong Kong Stock Exchange. With the spinoff named HKT Trust, the listing plan was approved by the exchange in June 2011 and PCCW shareholders on October 12, 2011, allowing for the creation of Hong Kong's first publicly traded business trust. The IPO ultimately raised around $1.2 billion. with PCCW maintaining a majority interest in both HKT Trust and HKT Limited. In November 2011, Li became chairman of HKT Trust, HKT Limited, and HKT's executive committee. With Li as chairman, in December 2013 HKT agreed to acquire CSL New World Mobility, a subsidiary of Telstra, for HK$18.8 billion. The transaction was completed in early 2014. In March 2015, PCCW Media acquired the mobile video provider Vuclip, and launched the streaming service Viu. Viu was rolled out to 24 markets globally over the next two years, and, by 2017, Viu, Vuclip, and the music streaming service MOOV had been bundled into the company PCCW OTT. That August, PCCW OT secured new investors including Hony Capital, Foxconn Ventures and Temasek. Li was 15th in the Forbes list of Hong Kong's 50 richest people for 2017. The same publication named him 385th in the list of the world's billionaires, with an estimated fortune of $4.3 billion. PineBridge and FWD Group In September 2009, Li oversaw PCG's acquisition