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March 15, 2012

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Not enthusiastic about taking over

UP to 82 percent of second-generation entrepreneurs in China are unwilling to take over their family businesses, the Management School of Shanghai Jiao Tong University found after polling 182 market-leading companies.

Some passively take part in management while others are eager to start up their own enterprises. But unlike their parents, they are more interested in investment and e-commerce than traditional industrial business, such as manufacturing.

The management school said finding someone to take care of the family-held companies has become a pressing task as their founders, 52 years old on average, will be approaching retirement age in the next decade.


 

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