Frances Yung Ming Fong (born 1972 with family roots in

Wuxi Wuxi (, ) is a city in southern Jiangsu province, eastern China, by car to the northwest of downtown Shanghai, between Changzhou and Suzhou. In 2017 it had a population of 3,542,319, with 6,553,000 living in the entire prefecture-level city a ...

Jiangsu Jiangsu (; ; pinyin: Jiāngsū, alternatively romanized as Kiangsu or Chiangsu) is an eastern coastal province of the People's Republic of China. It is one of the leading provinces in finance, education, technology, and tourism, with its c ...

) was the director of Group Finance Department of

CITIC Pacific CITIC Limited () is a conglomerate headquartered in Hong Kong. Its shares are listed on the Main Board of the Hong Kong Stock Exchange, and it is a constituent of the Hang Seng Index. 58% of its issued shares are owned by the Chinese state-owned ...

. She is the deputy chairman of CITIC Pacific Communications Limited and the director of Hong Kong Eastern Harbour Tunnel Company. She is the

daughter A daughter is a female offspring; a girl or a woman in relation to her parents. Daughterhood is the state of being someone's daughter. The male counterpart is a son. Analogously the name is used in several areas to show relations between ...

Larry Yung Chi Kin Larry Yung Chi-kin or Rong Zhijian (; born 31 January 1942) is a Chinese businessman and the former chairman of CITIC Pacific, a Hong Kong-based conglomerate. According to Hurun Report, he was one of the wealthiest people in mainland China, with ...

, the former chairman of CITIC Pacific.

2008 CITIC Pacific foreign exchange losses

In October 2008, Yung and other two senior executives were involved in an unauthorized

foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspec ...

deals in

, which caused a HK$15.5 billion loss in the company. Then she was removed from the finance department and

demoted ''Demoted'' is a 2011 American comedy film directed by J. B. Rogers and starring Michael Vartan, Sean Astin, Celia Weston, David Cross, Billy West and Sara Foster. Plot Rodney and Mike are two of the top salesmen at Treadline Tire Company. Desp ...

with a

salary A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. F ...

cut, confirmed by

Henry Fan Henry Fan Hung Ling, SBS, JP (; born 2 June 1948 in Shanghai, Republic of China with family roots in Ningbo, Zhejiang) was the managing director of CITIC Pacific and the vice-chairman of Cathay Pacific Airways. He is now the chairman of Hospi ...

, the CITIC Pacific's

managing director A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especiall ...

.How much did daddy's girl know?
/ref>

References

1972 births Living people Hong Kong businesspeople CITIC Group people {{China-bio-stub