Chan is the eldest son[3] of Chinese emigrants Chan Lib and See Ying from Fukien (now Fujian).[4] His father first moved to the Philippines in 1914. His parents would start a cornstarch family business which would grow to be the Liwayway Group.[3]
Together with his brother Manuel, Carlos Chan would diversify the Liwayway business in the 1970s by introducing the Oishi snack brand.[5] In the 1980s, Chan would expand the business to China.[3] Liwayway would also introduce the J.CO Donuts chain franchise to the Philippines.[6]
At the Philippine Pavilion of Expo 2010 in Shanghai, Chan was conferred the Order of Sikatuna by President Gloria Macapagal-Arroyo.[7]
The Management Association of the Philippines (MAP) conferred the MAP Management Man of the Year to Chan in 2021.[6]
He has served as a special envoy to the People's Republic of China for the Philippine under various presidents.[8] This includes Presidents Arroyo, Benigno Aquino III,[9] and Rodrigo Duterte.[10]