Business Daily Media

Men's Weekly

.

Passing the Torch to a Trillion-Dollar Future: The 4th China Next-Gen Entrepreneurs Forum Redefines Private Enterprise Succession

HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - Amid an era of unprecedented generational transformation, The 4th Forum of the New Generation of Entrepreneurs kicked off on June 17 in Beijing, sparking a groundbreaking dialogue on the future of private enterprise succession in China.

Jerry Lu, Chairman of Jinshang Technology Group, set the stage with a powerful and inspiring keynote titled "Carry on the Second Half, Writing a New Chapter " captivating the audience and setting the tone for this pivotal event.

Jerry Lu delivered an inspiring keynote at the 4th China Next-Gen Entrepreneurs Forum, sharing his journey and insights on generational succession.
Jerry Lu delivered an inspiring keynote at the 4th China Next-Gen Entrepreneurs Forum, sharing his journey and insights on generational succession.

The event brought together over 1,000 participants, including distinguished experts such as Ji Weimin, Deputy Director of the Institute of Industrial Economics at the Chinese Academy of Social Sciences and President of China Business Journal, Prof. Peng Qian, Director of Roger King Center for Asian Family Business and Family Office at the Hong Kong University of Science and Technology, along with representatives from the new generation and private enterprises.

Bridging Generations: From Conflict to Understanding

Jerry Lu's keynote began with a personal story of accompanying his father on a business trip at age 12, planting the seed of his desire to one day stand shoulder-to-shoulder and lead alongside him.

Jerry Lu reflected on the complexities of generational succession, sharing his personal journey of transformation—from feelings of frustration to a deep sense of understanding, and from reluctantly inheriting a legacy to actively embracing it. He likened the first generation's contributions to a powerful "threefold fuel"—resources, experience, and spirit—that not only provide a foundation for the next generation but also serve as a launchpad for bold innovation and future growth.

Turning Challenges into Opportunities: 68% Attrition vs. 71.2% Survival

Jerry Lu highlighted critical insights into the generational succession crisis, revealing that 68% of successors forced into leadership roles leave within three years, and only 3% of such businesses survive beyond five generations. In contrast, businesses led by proactive successors boast a remarkable 71.2% survival rate over three generations, underscoring the importance of intentional, forward-thinking leadership transitions.

To address these challenges, Lu outlined five strategic pathways for successful succession: cultural governance, technology-driven transformation, digitalization, industry upgrades, and cross-sector integration.

As a testament to these principles, Lu shared his own approach—leveraging the TOJOY's Platform to build a comprehensive health and legacy service platform tailored for high-net-worth clients. This integrated innovation model not only harnesses the resources and networks of previous generations but also positions businesses for sustainable growth in a rapidly changing landscape.

Academic and Media Perspectives on Family Business Succession

Ji, a seasoned media expert, shared insights from a decade of research on over 2,000 family businesses across China, identifying three pivotal shifts essential for successful succession. The first shift urges the next generation to move beyond the passive role of "inheritors" and embrace the proactive role of "co-creators," taking responsibility for driving innovation and growth. The second shift emphasizes the importance of utilizing professional tools, such as insurance and trusts, to effectively protect and transfer family wealth. The third shift highlights the need to establish a sustainable ecosystem by integrating financial tools, family culture, and legal frameworks.

Building on this perspective, Prof. Peng Qian shed light on the growing trend of family businesses transitioning into family offices. She emphasized that the longevity and success of family enterprises rely on shared values, a long-term vision, and strategies focused on creating impact. As family businesses confront challenges like a shortage of successors and intergenerational conflicts, family offices are emerging as a vital solution. These offices not only manage wealth but also foster family unity and uphold values through philanthropy, education, and social impact investments. Peng stressed that this transition is essential for preserving family legacies while ensuring their growth and relevance in an ever-evolving business landscape.

An 84 Trillion Yuan Shift: From Family Mission to National Legacy

Over the next 30 years, approximately 84 trillion yuan in private wealth will transition to the next generation, shaping the backbone of China's economy. This forum, blending academic research, media insights, and practical case studies, presented a bold new blueprint for succession. With private enterprises contributing over 50% of tax revenue, 60% of GDP, 70% of technological advancements, 80% of employment, and more than 90% of all businesses, the next generation's responsibility extends far beyond their families—it is deeply tied to the nation's future. As Jerry remarked, "We inherit a legacy forged by our predecessors' perseverance, and we write a new chapter under the banner of national rejuvenation."

A new era of collaboration, innovation, and shared responsibility has begun, paving the way for the future of China's private economy


Hashtag: #TOJOY

The issuer is solely responsible for the content of this announcement.

News from Asia

ANDPAD Launches Vietnamese Language Support for its Cloud-Based Construction Project Management Service

Expanding Multilingual Support for Global Users TOKYO, JAPAN - Media OutReach Newswire - 26 June 2025 - ANDPAD Inc. (Head Office: Chiyoda-ku, Tokyo; CEO: Takeo Inada; hereinafter ANDPAD), which op...

Changhong Unveils Smart Living Innovations at 2025 Jakarta Expo, Bringing AI-Driven Appliances to Indonesian Homes

Exclusive Shopee partnership brings cutting-edge smart living technology to Indonesian consumers JAKARTA, INDONESIA - Media OutReach Newswire - 24 June 2025 - Changhong, a global leader in smart ...

Malaysia Launches Full-Scale Startup ASEAN Platform To Drive Regional Growth

PUTRAJAYA, MALAYSIA - Media OutReach Newswire - 26 June 2025 - Malaysia today launched the Startup ASEAN platform, marking the full-scale rollout of a bold, unified digital gateway to connect and e...

Hong Kong Civil Claim Centre Launches Free Work Injury Compensation Calculator

HONG KONG SAR - Media OutReach Newswire - 26 June 2025 - The Hong Kong Civil Claim Centre (hkcivilclaim.com) has officially launched a brand-new online feature: the Work Injury Compensation Calcu...

Deleted

This Press release has been killed

SiegFund Transforms into SiegPath: A Strategic Rebrand Paving the Way for the Future of Professional Trading

HONG KONG SAR - Media OutReach Newswire - 24 June 2025 - SiegFund, a fintech–driven proprietary trading platform, has officially completed its brand upgrade and will now operate as SiegPath, serv...

Plaza 66’s Pavilion Extension Tops Out, Opening in Second Half of 2026

Expanding Retail Space by 13% to Boost the New Consumption Economy in Shanghai HONG KONG SAR & SHANGHAI, CHINA - Media OutReach Newswire - 26 June 2025 - Hang Lung Properties Limited (SEHK sto...

New EcoFood@Mandai Development Offers Tailored Food Factory Spaces in the North

SINGAPORE - Media OutReach Newswire - 26 June 2025 - A new food factory hub, EcoFood@Mandai, has officially launched in Singapore’s northern region, bringing purpose-built factory units to a wide ...

GREE Opens Singapore Office to Drive Asia-Pacific Expansion with World-Class Air Conditioning Technologies

SINGAPORE - Media OutReach Newswire - 26 June 2025 - Global electronics manufacturer GREE has officially launched its Singapore branch, marking a key milestone in its expansion in Southeast Asia. ...

HONMA Golf Announces Annual Results for FY2024/25

Continued Gross Profit Margin and Net Operating Cash Flow improvements albeit difficult market conditions HONG KONG SAR - Media OutReach Newswire - 26 June 2025 - HONMA Golf Limited ("HONMA"; tog...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy