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China’s wealth inheritors: Entrepreneurial, educated, less materialistic

Compared to other people’s difficulties in seeking funds at the beginning of startup, 62 percent of these inheritors received angel investments from the families firms

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China Europe International Business School (CEIBS) released a white paper to describe China’s second-generation inheritors of family business on Saturday.

Based on 521 questionnaires collected by the white paper, 44 percent of these inheritors are working for family firms, and expect to take over the family business; only 8 percent of them said they do not want to carry on their parents’ business.

Most of the inheritors have entrepreneurial zeal and are excited by the policies to encourage startups, and decided to show their abilities on enterprises operation and management, the white paper said.

Compared to other people’s difficulties in seeking funds at the beginning of startup, 62 percent of these inheritors received angel investments from the families firms.

Among all of respondents, 22 percent of them did not receive funds from the families firms; 16 percent of them said they have no plan to start their own business.

The inheritors have positive attitude to capital market. According to the white paper, half of these inheritors think their families firms should list on stock markets, and 9 percent of them do not support the idea.

Over 80 percent of the inheritors have good education background, with 49 percent having bachelor’s degree, 35 percent having…

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China

RCEP and China: Reimagining the future of trade in Asia

The Regional Comprehensive Economic Partnership (RCEP) could eventually usher in an era of much deeper regional integration: for corporates doing business in the region, their future success may well hinge on how adeptly they manage to navigate the evolution of Asia’s trade landscape under the RCEP.

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Last month, 15 countries in the Asia-Pacific region – including the 10 member states of the Association of Southeast Asian Nations (ASEAN) as well as China, Australia, Japan, New Zealand, and South Korea – signed the landmark Regional Comprehensive Economic Partnership (RCEP) on the final day of the 37th ASEAN Summit.

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China

Thailand ready to ink big Chinese-backed trade deal

The RCEP will cover all 10 Asean member states plus five partners: China, Australia, Japan, New Zealand, and South Korea and will take effect from the middle of 2021 if at least six Asean members and three partners agree to its terms.

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Thailand is set to sign the world’s biggest free trade agreement with Japan, China, South Korea and 12 other Asia-Pacific countries at the 37th Asean Summit this week.

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Great Wall Motor (China) takes over GM factory in Thailand

The Thai production hub will become operational in the first quarter of 2021 with automobile production capacity of 80,000 units per annum.

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Chinese carmaker Great Wall Motor (GWM) hosted a ceremony on November 2nd to celebrate the latest milestone in taking full ownership of Rayong Manufacturing Facility in Thailand.

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