Tsinghua University Press

Home > Book Center>Wealth to Wealth over Three Generations: Inheritance Studies on Chinese Family Businesses

Description

“A gentleman establishes his own business, expecting it to be inherited by his descendants”, said Mencius. From ancient times to the present, no matter emperors, generals and ministers, or ordinary people, all of them have made efforts to create their own cause and pass it on to their descendants. However, “shirtsleeves to shirtsleeves in three generations” is a true story for most family businesses. In this book, the authors cite examples of 9 Chinese family businesses – all of them not only start a business, but successfully keep it going: the Fung Family of Fung Group, the Kam family of Yung Kee, the Wu Family of Maxims Group, the Kwok Family of Sun Hung Kai Properties, the Pao Family of BW Group, the Tung Family of OOCL, the Lee Family of BEA, the Law Family of Great Eagle Holdings, and the Law Family of Vitasoy International Holdings. This book profoundly analyzes the characteristics of development and inheritance of these family businesses; advocates to integrate the merits of both eastern and western cultures, and draw on each other’s strength; reveals how they carry out family governance, strive for business inheritance and innovation in response to social and historical changes, and finally succeed in achieving “wealth to wealth over three generations”.