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By CCTV reporter Li Jiejun

Run Run Shaw, the Hong Kong media mogul whose studio took Chinese movies global, has died at the age of 107. Shaw was a great pioneer of Chinese film, and a generous philanthropist who donated billions of Hong Kong dollars to various social projects. He will be sadly missed by many Chinese across the world.

File photo of Run Run Shaw. Shaw died at the age of 107 at home in Hong Kong on Jan 7, 2014. [File photo/China News Service]

File photo of Run Run Shaw. Shaw died at the age of 107 at home in Hong Kong on Jan 7, 2014.

[File photo/China News Service]

Run Run Shaw, one of the pioneers of 20th century Chinese film, died peacefully in the company of his family at his home on Tuesday morning. He was 107.

His death was a profound loss for Hong Kong’s film and TV industry.

Hong Kong SAR Chief Executive CY Leung commended his great contribution to the local entertainment industry and his charity work.

“Run Run Shaw has for a long time promoted the entertainment industry in Hong Kong, his philanthropy also has spread from Hong Kong to the Chinese mainland and beyond. He is an elder that we very much respect.” Leung said.

Shaw, born in 1907 in Zhejiang Province, entered the entertainment industry with his brother in the 1920s. He created a media empire in Asia spanning movies to television.

He co-founded the Shaw Brothers film studio, which churned out nearly 1,000 movies as it popularized the kung fu genre¹ that would go on to have an impact on Hollywood.

“Mr. Shaw’s company made many Chinese films. Because of him, the level of movie production at that time had been improved a lot.” Ng See Yuen, chairman of Federation² of Hong Kong Filmmakers, said.

Shaw was also the founder³ of Hong Kong’s dominant⁴ TV station, Television Broadcasts, or TVB, which is still one of the major forces of content production and talent management in the region.

Shaw was not only one of the most influential⁵ figures in Asia’s entertainment industry, but also a well-known philanthropist. Over the years, he has donated billions of Hong Kong Dollars to charities, schools and hospitals. He established an international award, the Shaw Prize, for scientists in areas covering astronomy, mathematics, and life and medical science. The press called it the "Nobel Prize of the East".

Shaw’s funeral will be a private event, to be attended only by family members. Many will surely miss the man known for generosity⁶ and eye for entertainment.