The Progressive Group was formed in 1971 by 20 leading firms of Hong Kong with the objective of sharing information on problems of common nature, organising social and cultural events, and inviting leading personalities in banking, finance etc. to deliver lectures. The Kowloon Branch of this Group was formed in 1981. The Group has a membership of 157. Mr. K. P. Daswani has been the Chairman of the Group since its inception.