Shaw retired in 2011 after having chaired TVB since 1983. He was knighted in 1977 and received many other honours throughout his lifetime, including a Bafta just last year for his outstanding services to cinema. He was also honoured with a lifetime achievement award from the Hong Kong Film Awards in 2007 to mark his 100th birthday.
Born in Ningbo, Zhejiang, in 1907, Shaw established several film businesses in Singapore, Malaysia and China before settling in Hong Kong. He set up Shaw Brothers Studio in 1958, which went on to become the centre of Hong Kong's film industry.
Facing increased competition in the 1970s, Shaw shifted focus to TV, establishing TVB as Hong Kong's leading station. Chinese University School of Journalism and Communication director Anthony Fung Ying-him said Shaw's influence was so great, he helped promote Hongkongers' identity.
"In the '70s, TVB produced fundraising programmes, Miss Hong Kong, and Enjoy Yourself Tonight. These are the collective memories of that generation of Hongkongers," he said.