Responsibilities of new business leaders

A group of young people born after 1980 will soon inherit businesses from their fathers. An editorial in The Economic Observer analyses their social responsibilities. Excerpts:

Several days ago, Liu Chang took presidency of New Hope from her father. The 32-year-old woman became board chairman of China's biggest forage producer.

According to a survey, 85 percent of China's private enterprises are family-owned. Many of them will inherit young leaders over the next five to 10 years.

Without a doubt, the primary responsibility of these young people should be making a profit. A successful enterprise will offer stable incomes to its staff, as well as promising jobs to new graduates.

These young CEOs have social responsibilities, too. Most of China's giant enterprises were born in the era of social transformation and their growth was often interrelated with power. The new leaders need to learn the rules of modern business, which is the only way of sustaining the growth of enterprises.