V ictor Fung, along with his brother William Fung, is the honorary chairman of Li & Fung, a major global supply chain and logistics company based in Hong Kong. He represents the third generation of the family's business, which was co-founded by their grandfather in 1906 as a traditional trading company. Victor, who holds a PhD in business economics from Harvard, and his brother are credited with transforming the family's old-style business into a modern, sophisticated, and technologically advanced global supply chain manager.

At its peak, Li & Fung was a dominant force in global trade, acting as a crucial intermediary that managed the entire production and logistics process for major Western retailers, sourcing goods from a vast network of factories across Asia. However, the business has faced significant challenges in recent years due to the rise of e-commerce, which has disrupted traditional retail supply chains. In 2020, the Fung family, in partnership with a Chinese logistics firm, took the company private to restructure it away from the glare of the public markets. Victor is also an influential figure in Hong Kong's business and policy circles.