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, casino, and other businesses. Despite the holding companies of the group, namely Chow Tai Fook Capital Limited, Chow Tai Fook (Holding) Limited, Chow Tai Fook Enterprises Limited, etc. being privately owned, the group has been partially listed on the stock market via associate company New World Development (, listed since 1972) and subsidiary Chow Tai Fook Jewellery Group Limited (, listed since 2011). 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. However, the size of the unlisted portion of the Chow Tai Fook business empire is unclear. The Financial Times quoted one banker of the Cheng Yu-tung family, who said, "You can't look at [Cheng] YT without looking at the private side of the business and his ability to spot early investment opportunities". Notable unlisted businesses of the group include Rosewood Hotel Group, as well as Australia-based Alinta Energy and the Loy Yang B power station, which were acquired in 2017. Chow Tai Fook Capital is owned by the descendants of the late Chow Tai Fook Jewellery founder Chow Chi-yuen () and his son-in-law, the late Cheng Yu-tung, which includes the current Chow Tai Fook Jewellery Group chairman, Chow Tai Fook (Holding) director Henry Cheng. History The Chow Tai Fook group began with the Chow Tai Fook jewellery store, founded by Chow Chi-yuen in 1929 in Guangzhou, China. The store shifted its business to Portuguese Macau in 1940 (some say 1931) and then to British Hong Kong after the breakout of the Second Sino-Japanese War in the 1930s and the establishment of the People's Republic of China in 1949. The group returned to Mainland China after the market reforms of the 1980s, notably as New World Department Store China and former listed company New World China Land. Cheng Yu-tung took over the business empire from his father-in-law Chow Chi-yuen in 1956. Other sons of Chow emigrated after the outbreak of Hong Kong 1967 leftist riots, such as Stephen Chow Shue-tong (), an architect who emigrated to Canada. Stephen Chow also involved in the founding of the real estate division of Chow Tai Fook group in the 1960s. Cheng transformed the group into a diversified empire, with