Wang Yuanyuan

    An increasing number of entrepreneurs do not want to send their children to study overseas as they are afraid that they will not want to return to China and take over the family business.

    “Many children prefer to live abroad and pursue their own dreams after receiving a Western education and seeing a new world. If their children do stay away, the parents will be forced to sell their companies when they retire,” said Chen Caiyin, a consultant from EGI Education Group.

    Mai Weijie, a private entrepreneur in Shenzhen, changed his mind about sending his two sons abroad. “I set up my company about 20 years ago in Shenzhen and its annual net profit is now 50 million yuan (US$ 8 million). Because I am not very educated myself, it had always been my dream to give the best education to my two sons,” Mai said.

    However, children of many of Mai’s friends have stayed abroad after completing their studies, depriving their parents of having somebody to inherit the business. “This worries me. I’d have to send them both abroad, otherwise the one staying in China would think it unfair. But if both decided not to come back, the business that I have worked so hard to build would be left alone,” Mai said.

    The most extreme case occurred in November last year. A 23-year-old man in Jiangsu Province cut off four of his fingers to express his anger at his parents, who tried to persuade him to give up his animation career and take over the family business.

    Most of children choose majors that are unrelated to their family business. “Therefore, many choose to pursue their interests,” Chen said.

    Meanwhile, some receive advanced education and are worldlier than their parents. “They may have bigger ambition and want to exercise their knowledge and experience,” Chen said.

    “It is hard to say who is right or wrong, but more communication between family members is very important to deal with these problems,” said Huang Shuhua, president of Xintong International Education Group.

    Huang suggested parents who wanted their children to take over the family business should let their children be involved in family affairs and management when they are young, to grow passion for the business.

    “Meanwhile, parents should encourage their children to choose majors that are related to the family business so that the children can apply their knowledge and skill in the business,” Huang said.