China 's second generation of entrepreneurs is cutting its teeth. Many are now in their late twenties or early thirties and - with their schooling out of the way - are assuming ever-increasing roles in their parents' businesses. For Mainland China 's biggest private businesses, this is crunch-time. Do the children have the desire and the ability to take over or should the business be sold? Clues to how Mainland China 's entrepreneurs will fare with this can be gleaned from the tycoons of Hong Kong , Taiwan and Singapore in the nineties and Japan in the seventies. Our cover story this issue reports on the options open to China 's entrepreneurs and their children, as well as exclusive interviews with some of the rising stars.
Mainland China 's entrepreneurs and their families are discovering the taste to travel internationally and their week-long October National Day holiday plans are being made now. In anticipation of this, we sent our reporter Camilla Chen to France and Monaco to investigate the super luxury lifestyle available to China 's top entrepreneurs there. Camilla met with many of France and Monaco 's top brands and even managed an exclusive interview with Laurent Dassault, scion of France 's third richest family. The pride these brands take in their sense of history and their obvious passion for the products themselves left the deepest impression on Camilla. "These brands can teach China 's entrepreneurs how to enjoy life," said Camilla. As well as a Riva Yacht party with guests flying in from all over the world, Camilla was deeply impressed by "the miles and miles of cellars at Veuve Clicquot (in Champagne ) and the pride in their culture at Remy Martin (in Cognac )." The result is our Special Report on the Super Luxury of France and Monaco .
2005 has been the Year of the Luxury Brand in Mainland China with many of the Who's Who of the industry coming out on visit. One such is the yachting industry, which has strong expectations for Mainland China 's richest people. " Russia exploded onto the yacht industry in the last five years," explained Jamie Edmiston, President of Edmiston Yachts, "and many expect Mainland China to be next." Our reporters have reviewed China 's nascent yachting industry, highlighting the state of the marinas, crews, services, spare parts as well as the yachts available to buy. Our conclusion? Whilst China 's yachting infrastructure may be changing dramatically, it is best to keep your big boat moored in Monaco for the time being.
Our inaugural Personal Investment Guide for China 's Rich looks at the investment opportunities open to and attractive for China 's richest people. Despite the Renminbi still being unconvertible, the options domestically have been increasing as the financial services industry is becoming more sophisticated.
Finally, we are proud to announce that we have completed the fourth in our Best Things in Life series that has now raised RMB 2.05 million for local charities since April last year. We would like to thank all of you who have supported our charity auctions and helped make us the leading event organiser of this kind in the country.
