More Than Half Of China’s Family Businesses Face Succession Dilemma

China’s economic reforms of the past three decades created one of the world’s wealth booms and turned the country into one of the world’s fast-growing sources of new billionaires. Non-government businesses – including those run by private-sector entrepreneurs – now account for a majority of jobs in China, a striking contrast with the country’s Maoist heyday. China family businesses that are among the most successful in their field globally. Yet many of the earliest pioneers of China’s reforms are finding that their children aren’t interested in taking over the family businesses. The problem appears at more than half of China’s traditional private sector companies.