{"id":1046031,"date":"2026-09-06T01:57:17","date_gmt":"2026-09-06T01:57:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/1046031\/"},"modified":"2026-09-06T01:57:17","modified_gmt":"2026-09-06T01:57:17","slug":"in-focus-family-firms-power-chinas-economy-but-what-happens-when-the-heirs-refuse-the-throne","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/1046031\/","title":{"rendered":"In Focus | Family firms power China\u2019s economy \u2013 but what happens when the heirs refuse the throne?"},"content":{"rendered":"

Many Chinese tend to label the offspring of the country\u2019s nouveau riche private business founders with the pejorative \u201cfuerdai\u201d, literally \u201csecond-generation rich\u201d<\/a>.<\/p>\n

They are seen as scions, waiting in the wings to inherit their family\u2019s enterprises and the massive wealth their parents oversaw, a life in the lap of luxury guaranteed.<\/p>\n

In reality, many of these transitions are plagued by a clash between generations, as the younger generation is unwilling \u2013 or unable \u2013 to keep the family business going, let alone allow it to thrive.<\/p>\n

The private sector, the backbone of China\u2019s economy and employment, is now facing a growing succession crisis \u2013 one which may see businesses wind down or fold, observers warn, as family matters threaten to send broader tremors throughout the country.<\/p>\n

In regions like China\u2019s eastern Zhejiang province, a major economic centre, questions over inheritance are becoming more pressing.<\/p>\n

\u201cI cannot \u2013 and probably should not \u2013 take over from my father,\u201d said Li Fante, whose family\u2019s factory, like many other businesses in Zhejiang\u2019s city of Wenling, has maintained steady profits.<\/p>\n

However, he said the work was neither exciting nor lucrative enough to lure him in.<\/p>\n","protected":false},"excerpt":{"rendered":"Many Chinese tend to label the offspring of the country\u2019s nouveau riche private business founders with the pejorative…\n","protected":false},"author":3,"featured_media":1046032,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[418609,418605,9710,64,21767,74,23366,17437,79,418610,95753,40865,418607,8519,418602,418608,186340,418603,6043,418601,266102,67,132,68,418606,73651,266106,418604],"class_list":["post-1046031","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-all-china-federation-of-industry-and-commerce","tag-an-conghui","tag-beijing","tag-business","tag-byd","tag-china","tag-china-enterprise-institute","tag-communist-party","tag-economy","tag-fuerdai","tag-geely","tag-guangdong","tag-haining","tag-jiangsu","tag-li-fante","tag-li-shufu","tag-ningbo","tag-ningbo-university-of-finance-and-economics","tag-shanghai","tag-su-saier","tag-tang-dajie","tag-united-states","tag-unitedstates","tag-us","tag-wenling","tag-zhejiang","tag-zhejiang-daily","tag-zhejiang-meida"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117221618298111053","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1046031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1046031"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1046031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1046032"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1046031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1046031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1046031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}