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90% Of China's Private Company Bosses Said To Want Their Kids To Succeed Them

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As many as 90% of bosses of Chinese non-government-owned companies want to turn their businesses to their children in the future, the state-published China Daily reported today, citing a study by Beijing Huashang Institute of Management.

In the next decade, some three million Chinese businesses will face leadership changes, the paper said, also citing Huashang.

China’s state-owned companies such as PetroChina and China Mobile are as a group the country’s biggest, but non-state businesses today account for the largest stake of employment and GDP.

Growth in the private sector in the world’s second-largest economy has also lead to an explosion of wealth.  Earlier this month, Forbes said real estate entrepreneur Wang Jianlin has surpassed beverage tycoon Zong Qinghou as the country’s richest man. China had 122 members on the 2013 Forbes Billionaires List published in March, second only the United States.

-- Follow me on Twitter @rflannerychina