Next generation not keen on family businesses, says survey

A Peking University survey revealed that as many as 80 percent of the next generation are reluctant to take the helm at family-owned businesses.

Most (about 70 percent) of the next generation at Chinese family-run businesses are keen to strike out on their own and chart a path different from their parents.

This poses a huge challenge at a time when most of China's family-run businesses are likely to face succession problem in the next five to 10 years.