In a recent announcement, Zheng Zhigang has resigned from his positions as Executive Vice Chairman and CEO of New World Development. Alongside these departures, he has also stepped down from his directorial roles at New Creation, Chow Tai Fook, and New World Department Store. Throughout his leadership at New World, Zheng focused on transforming the conventional real estate development model.

Beyond real estate, he has actively engaged in various private investment initiatives, emphasizing asset management, innovative technologies, and virtual assets. Notably, he founded the investment platform Jingyu in 2020, which amassed assets totaling $2 billion by the end of 2021. Zheng has also made significant investments through C Capital and Flow Capital.

Zheng’s enthusiasm for innovative technology and virtual assets is evident in his investment strategies. He invested $5 million in virtual land within The Sandbox and has been actively involved in NFT ventures such as Azuki and the virtual asset custodian Hex Trust. His diverse investment portfolio also encompasses notable companies including Animoca Brands, Lalamove, and Day Day Cook.

In 2020, Zheng made headlines by investing in ByteDance, the parent company of TikTok, and played a pivotal role in facilitating the U.S. listing of Prenetics, a genetics and diagnostics firm, through his private SPAC. Additionally, he was the first external strategic investor in CASETiFY, a Hong Kong-based phone case company, further showcasing his commitment to innovative ventures.

Zheng’s departure marks a significant transition for New World Development, raising questions about the company’s future direction in the evolving landscape of real estate and technology investments.