Dr. Chai assumed the position of Chairman of Hong Kong Science and Technology Parks Corporation in July 2018. In the same year, he was awarded the Bronze Bauhinia Star (BBS) by the HKSAR Chief Executive commending his outstanding contributions to the promotion of innovation and technology development in Hong Kong, and was conferred a University Fellow by Hong Kong Polytechnic University. He was named an Honorary Fellow of City University of Hong Kong in 2022, and appointed as a Justice of the Peace in 2021. He received the Young Industrialist Award of Hong Kong in 2004.

Currently the Group Managing Director of Fook Tin Group Holding Limited, Dr. Chai is actively contributing to the society by serving as:
• Chairman, Hong Kong Science and Technology Parks Corporation
• Member, Governance Committee of Hong Kong Growth Portfolio, HKSAR
• Ex-officio member, InnoHK Steering Committee, Innovation and Technology Commission, HKSAR
• Member, Enterprise Support Scheme Assessment Panel of Innovation and Technology Fund, HKSAR
• Member, Professional Services Advancement Support Scheme Vetting Committee, HKSAR
• Chairman, Federation of Hong Kong Industries
• General Committee Member, Chinese Manufacturers' Association of Hong Kong
• Council Member, Hong Kong Trade Development Council
• Chairman, Innovation and Technology Advisory Committee, Hong Kong Trade Development Council
• Chairman, The Hong Kong Polytechnic University Foundation
• Chairman, The Advisory Board of the Faculty of Engineering, The Chinese University of Hong Kong
• Member, Court of City University of Hong Kong
• Governors, Board of Governors, Tung Wah College
• Committee Member, Chongqing Committee of the Chinese People's Political Consultative Conference

Dr. Chai graduated with a Bachelor of Science from Rochester Institute of Technology (USA) in 1988, and completed an Executive MBA program (EMBA) at the Chinese University of Hong Kong in 2007. In 2010, he was awarded the Doctor of Engineering (EngD) from the City University of Hong Kong.