“I don’t mind whether he is rich or poor. The important thing is that he is generous and kind hearted,” 76-year-old Chao was quoted as stating.
“Gigi is a very good woman with both talents and looks. She is devoted to her parents, is generous and does volunteer work,” he added.
Chao, who owns publicly-listed property developer Cheuk Nang, could not be reached for comment.
Same-sex marriages are not recognised in Hong Kong, a socially conservative Chinese city where homosexuality was decriminalised in 1991.
Chao is well known in Hong Kong’s social circles and regularly appears at public events with his latest young girlfriend.
He reportedly once claimed to have had intimate relations with 10,000 women.