Tang was a political insider with lead positions on a number of boards and committees. He had an important role in Hong Kong's transfer of power from the UK to China in the years leading up to 1997. His Business positions included managing Director of Soco Textiles, chairman of Peninsula Knitters, general manager of Xinjiang Tianshan Wool Tex Stock Company and general manager of Shanghai United Woolentex Group and Guandong Lianfa Woolen Fabric Company, with associated ownership stakes
His businesses prospered in Hong Kong, mostly in textiles (Peninsula Knitters and Soco Textiles), but was involved in printed circuit-boards with the establishment of Meadville Holdings (sold to TTM Technologies in 2009). After 1989, he showed commitment to the emerging Business environment of China, amassing an estimated net worth of US$1.6 billion, and earning him membership of the Standing Committee of the 7–9th CPPCC National Committee.
His son Henry Tang Ying Yen was Financial Secretary of Hong Kong and a candidate for Chief Executive in 2012.
Tang died on 10 March 2018, aged 94 years, peacefully at his home in Hong Kong.