Charity begins at home for the chiang family

Chiang Lai-yuen, 37, was promoted to chief executive of her father's company, Chen Hsong Holdings, in April this year. Her brother, Chiang Chi-kin, 36, is an executive director.

Unusually, despite holding the reins at a company set up by her father in 1958, she will not inherit most of it.

Chiang Chen, a native of Shandong province and a former nationalist soldier, remains its chairman. He has set aside much of his wealth for the Chiangs' Industrial Foundation, a charity he established to promote the development of industry in China.

As chief executive, Ms Chiang is paid a regular managerial salary and owns about 1.2 million shares of the firm. A family trust owns another 7.8 million shares. All other private holdings in the company will go to the foundation.

Ms Chiang and her brother are the only children involved in running the company. One daughter is the retired actress Chiang Lai-ping.