Ｔｈｅ　Ｓｅｃｏｎｄ－ｇｅｎｅｒａｔｉｏｎ　Ｒｉｃｈ　ｉｎ　Ｃｈｉｎａ：Ｂｅｓｔｉｎｇ　Ｍｕｍ　ａｎ.docVIP

Ｔｈｅ　Ｓｅｃｏｎｄ－ｇｅｎｅｒａｔｉｏｎ　Ｒｉｃｈ　ｉｎ　Ｃｈｉｎａ：Ｂｅｓｔｉｎｇ　Ｍｕｍ　ａｎ 　　I feel so proud of my son ?C many children of self-made men like me are not capable of taking over family businesses,” enthuses Chen Gentu, board chairman of the Zhejiang-based Shunpu Hats Industry Co., Ltd. This grey-haired man glows with pride when talking about his son Chen Junbiao. 　　 　　Chen Junbiao is part of the generation whose parents were among the first private entrepreneurs to emerge after the reform and opening-up drive was introduced. They have become known as the second-generation rich in China. Most of them were born in the 1980s and will inherit over RMB 100 million from their families. Hurun (Rupert Hoogewerf), the British founder of the Hurun Report, once said: “Family business succession is typical in places such as Zhejiang, Guangdong and Fujian provinces, because those entrepreneurs initiated their businesses at an earlier stage, have accumulated wealth for a longer time, and have childrenmore likely to take over the family business earlier.” 　　“A successful handover needs a process,” says Chen Ling, head of the Family Firm Institute of Zhejiang University City College. This has become a general problem for Asian family enterprises. “As with many emerging economies, China lacks a modern wealth succession model,” Chen adds. 　　 　　Paying Their Dues, 　　Leaving Their Mark 　　 　　Chen Junbiao entered his family firm upon graduation from university. In the beginning, his father encouraged him to assume a non-management role, working in a paper mill affiliated with the company for a year to learn the most basic techniques. Chen Junbiao was allowed to step into a leadership position only after he gained experiences as a worker and technician. 　　 　　When it comes to business operations, Chen Junbiao holds different opinions from his father. Like his dad he favors exploring business niches by attending exhibitions, but he also stresses the introduction of modern management concepts. Although the