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Get up to speed with a big development in Asian business



It’s the end of an era in Hong Kong business: this month, Li Ka-shing is retiring. Once Asia’s wealthiest man and still, with his estimated value of about US$35 billion, at the top of Hong Kong’s rich list, the 89-year-old is handing control of his empire to his elder son, Victor Li.

It’s been a storied career for the man dubbed ‘Superman’, often cited as the epitome of a Hong Kong rags-to-riches story. Over the space of 50 years, he went from humble beginnings to running a diverse range of businesses across the world, from real estate to transportation, utilities to health and beauty. But perhaps the big question for the city is whether ‘Li’s field’, the force field that jokesters say the tycoon uses to repel typhoons from the city to keep businesses open, will continue into retirement.

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