Resigning from the last of his roles in the property and retail conglomerate after stepping down as CEO last year, Cheng’s final departure from the family firm New World Development in July generated gossip in the business pages. While he is pursuing new entrepreneurial adventures (he became chairman of the US short-form-content producer Crisp Momentum in October), there was one position he retained from his earlier life: director of K11 Foundation, which partners with non-profit institutions and operates its own gallery spaces within K11-branded shopping centres (he no longer has a hand in the art-meets-shopping mall K11 Group). Cheng, who continues to hold board and patron positions with MoMA PS1, the Met, Tate, Pompidou and more, pressed on with inaugurating the K11 Hybrid Art and Cultural Centre in Shenzhen, presenting a show by Lu Yang, while launching a new enterprise focused on immersive experiences, K11 by AC, and the inaugural K11 Curator Prize (a biennial award to complement K11’s existing Artist Prize), which went to curatorial partners Li Hanwei and Miao Zijin.