Second-gen entrepreneurs take up family biz batons
China DailyA worker checks the quality of electric irons to be exported to the United States at a workshop in Cixi, East China's Zhejiang province, in December. NINGBO — When Ye Kaifeng, a Ningbo native, returned home in 2004 after studying abroad, he was initially reluctant to step into his father's shoes and take over the family papermaking business. The challenge of management transition is widely shared by tens of thousands of private enterprises in Cixi, a county-level city under the administration of Ningbo, Zhejiang province — with over 1.8 million residents and roughly 60,000 private enterprises. It is also a common problem facing the country's bustling economic hubs where the management transition of family enterprises holds implications for regional economic prospects. Among 418 private enterprises with an output value exceeding 100 million yuan in Cixi, 146 companies — or 35 percent of the total — have been completely or largely taken over by second-generation owners.
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Succession questions raised as family firms face hurdles
China Daily
Succession questions raised as family firms face hurdles
China Daily
Second-gen entrepreneurs take up family biz batons
China Daily
Second-gen entrepreneurs take up family biz batons
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