Family businesses in China have higher sales growth compared to their global peers and are more focussed on digitalisation, according to a survey by PwC.
In the last 12 months, family businesses on the mainland were found to report a 75% sales growth as against the global average of 69%.
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Of this, 67% of family businesses in the mainland reported double digit year-on-year growth, compared to the global average of 34%.
Mainland family business executives were also better strategic planners, according to the study.
Ninety six percent of mainland family business executives were found devising a strategic plan for the next three to five years, versus the global proportion of 79%.
The study also found 26% of family businesses in China expressing quick and aggressive growth aspirations over a two-year time period. In the case of global peers, this figure was 16%.
At the same time, decision makers in mainland and Hong Kong were found less vulnerable to digital disruption compared to their global peers.
