However, in areas that are genuinely competitive, such as banking, Hong Kong's family firms have been largely elbowed aside by multinationals.

ECONOMIST: Chinese family businesses

Born in San Francisco in 1940, Lee's family returned to Hong Kong in 1941.

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Controlled by the founding Swire family, the company's operations also include property development in Hong Kong, marketing and distribution of Coca Cola products in China and supplying offshore oil rigs.

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