New World Development
Chow Tai Fook group, via Chow Tai Fook (Holding) Limited (incorporated in the British Virgin Islands) and Chow Tai Fook Enterprises Limited (incorporated in Hong Kong), owned two listed companies as the significant shareholder: Chow Tai Fook Jewellery Group Limited (, incorporated in the Cayman Islands; 89.3%) and New World Development Company Limited (; 44.39%). However, New World Development also owned a few listed second-tier subsidiaries (tier that respect to the Chow Tai Fook Enterprises), such as New World Department Store China, NWS Holdings, etc. New World China Land, another second-tier subsidiary, was a listed company until privatization by New World Development in 2016. The privatization of listed second-tier subsidiary New World Department Store China by New World Development was not approved by the minority shareholders in 2017. Another second-tier listed subsidiary, New World Hotels (Holdings), was privatized by New World Development and Chow Tai Fook Enterprises in 1990.