Tung Chee-hwa

Family Background and the Shipping Crisis

Tung Chee-hwa was born on 7 July 1937 in Shanghai, the eldest son of shipping magnate Tung Chao-yung, and moved to Hong Kong with his family at age twelve. In 1960 he graduated from the University of Liverpool with a degree in mechanical engineering, and subsequently joined his father's company, Orient Overseas Container Line (OOCL). After his father retired in 1979, Tung became Chairman and CEO of the company; when his father died in 1982, a prolonged global shipping recession had already left the company with debts of roughly US$2 billion. In 1985, with the company on the verge of bankruptcy, the pro-Beijing businessman Henry Fok Ying-tung brokered a rescue in which entities with mainland Chinese backing injected roughly US$120 million, providing debt relief, extended repayment terms, and taking a stake of more than ten percent in Orient Overseas International; Tung announced the company's restructuring plan in May 1986. This episode of rescue by Beijing-linked capital is widely regarded as an important part of the background to his later selection by Beijing as Hong Kong's first Chief Executive.

Chief Executive of Hong Kong

In 1996, Tung Chee-hwa was chosen by a 400-member Selection Committee as Chief Executive-designate. On 1 July 1997 he was sworn into office at the Hong Kong handover ceremony, becoming the first person to govern Hong Kong after the return. Early in his administration he set a target of building 85,000 public housing units per year, but the policy collided with the 1997–98 Asian financial crisis, during which Hong Kong's property market collapsed; the "85,000" target was widely blamed for exacerbating the crash and was quietly abandoned, becoming one of the most controversial policies of his tenure. His term also encompassed the 2003 SARS epidemic and the Article 23 legislation controversy triggered by that year's 1 July march, after which several senior officials resigned. Facing sustained low public approval ratings, he resigned early in March 2005, citing health reasons, more than two years before the completion of his term.

After Office: CPPCC Vice Chairman

After leaving office, Tung Chee-hwa was appointed Vice Chairman of the 10th National Committee of the Chinese People's Political Consultative Conference (CPPCC) in 2005, and continued to serve as Vice Chairman through the 11th, 12th, and 13th National Committees until 2023, an eighteen-year tenure. During this period he founded and chaired the China-United States Exchange Foundation, dedicated to promoting mutual understanding and exchange between China and the United States.