Growing up in Zhejiang province, Zhan's childhood memories are marked by his father's frequent absences due to work commitments. Family dinners and vacations with his father were rare occurrences.

The expectation to inherit the family business weighed heavily on Zhan from a young age. However, during his second summer of college, he realized the importance of forging his own path. After graduation, he pursued a career in public service in another city, completely distancing himself from the family business.

Zhan's decision to work in the public sector provided not only stability but also an escape from predetermined expectations, allowing him to live life on his own terms.

"My father had hoped I would take over, leveraging existing connections and resources to grow the family business," Zhan said. "But I don't need his wealth."

Zhan's story resonates with a growing number of children from entrepreneurial families in China, often referred to as "chang'erdai," the second generation born into prosperity created by their parents.

Associate Professor Ji Yingying at Shanghai University conducted research on the "chang'erdai." Her findings reveal that most maintain relatively stable family relationships, harboring no resentment towards the family business but also not viewing inheritance as an obligation. "In these families, personal health and happiness take precedence over continuing their parents' careers," Ji observed.

Since the mid-2010s, as China's first generation of private entrepreneurs began transitioning their businesses, the question of inheritance became crucial to the future of the private sector, which accounted for 96.4% of all businesses nationwide as of last year.

In Zhejiang, home to 2.5 million small businesses in 2020, mostly privately owned, the next generation has about a decade to decide whether to take the reins. A survey last year revealed that only 40% of the second generation nationwide were willing to inherit family businesses, indicating a significant shift in attitudes towards inheritance.

As the eldest son, Zhan was considered the traditional heir in China. However, with an older sister who was raised by another family until the age of three, he doesn't see himself as the eldest. He believes the traditional preference for sons placed the burden of inheritance squarely on his shoulders.

Leaving the family business, Zhan found that working in public service alleviated the pressure to prove himself, a common struggle for many chang’erdai. The steady pace also allowed him to avoid the demanding lifestyle that consumed his father's time and kept him away from his family.

"I feel much more confident," Zhan said. "I can be a proud, ordinary worker."

He also appreciates the transparency of his current workplace, particularly regarding compliance, where rules outweigh personal connections. For Zhan, this provides an impenetrable barrier against parental emotional manipulation.

Illustrative photo: Pixabay

Meanwhile, Shan grew up in an affluent family that owns a construction materials business. Her older sister, uninterested in business, is a full-time homemaker. Her younger brother pursues martial arts, aspiring to be a student athlete.

Shan currently works as a manager and designer at a small company. She says her parents never pressured her or her siblings to take over the family business. To her, running a business is just another career choice.

"You work, then you retire, just like everyone else," she said. "Life isn't all about money."

According to Associate Professor Ji Yingying, international studies show that Gen Z has a strong sense of individuality and prioritizes emotional fulfillment, even to the point of forgoing inheritance.

Furthermore, many chang’erdai disagree with their parents' vision for succession. Some don't rely on their parents, preferring to forge their own paths. Many remember their parents as perpetually busy, believing the family business robbed them of deserved attention and affection.

This raises the question of whether inheritance truly begins with the transfer of assets or with the emotional bonds nurtured over time. Studies suggest that if parents lessen their expectations of inheritance and focus on emotional connection, the business might still remain within the family, albeit in a different form.

Ngoc Ngan (According to Sixth Tone)