The past four decades have seen transformation in rapid development, and surging progress through strenuous efforts. Now, we stand on the threshold of a new era marked by succession in a large number of private enterprises.
Intergenerational succession is often accompanied by changes in the business model of enterprises. The success and quality of this wave of intergenerational inheritance of private enterprises will wield a profound influence on the future development of China’s private economy. This influence holds immense importance not only for the overall upgrading and transformation of China’s economy but also for the long-term stability of the society.
In this context, the family wealth management business in China has entered a golden period of development with soaring market demand. King & Wood Mallesons (KWM) has been actively focusing on the market dynamics and practical development in the field of wealth management and established the family wealth security and inheritance practice in 2018. This initiative aims to support the smooth and orderly succession in China’s private enterprises, contributing to the stable and healthy development of the private economy.
To celebrate the 30th anniversary, KWM has compiled and updated articles previously published by the firm on related topics to release the publication Family Wealth Security and Inheritance. This publication delves into an array of topics including domestic/foreign family trusts, domestic/foreign marriages and inheritance, family enterprise governance, family enterprises/family members’ tax compliance and tax planning, foreign exchange compliance, crisis response, and dispute resolution, as well as family charities and other sub-sectors. Dozens of KWM lawyers shared their research results and practical experience in this publication, hoping that their in-depth analysis of relevant legal issues will be beneficial to this first wave of smooth and orderly succession in private enterprises in China.
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