Media365
“We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an interview with the South China Morning Post. “So I am optimistic.”
A key driver is the ongoing transfer of wealth from founders of family businesses to their successors. UBS estimated that about US$83 trillion would change hands globally over the next 20 to 25 years.
In China alone, more than 3 million private enterprises were expected to undergo intergenerational succession within the next decade, according to a 2025 report by a unit under the All-China Federation of Industry and Commerce.
Some major companies, including Wahaha and Country Garden, have already transitioned to second-generation leadership.
