KPMG Successfully Hosts the Inaugural Future Entrepreneur Award Ceremony to Support High-Quality Development of the Private Sector

The private sector plays a fundamental role in this process, with private enterprises and entrepreneurs being indispensable forces. At the national level, a series of policies has been introduced to promote the growth of the private sector, further optimising the development environment for private enterprises, stabilising expectations, and stimulating vitality. A group of resilient and visionary private entrepreneurs actively practice new development concepts and promote the spirit of entrepreneurship, contributing to industrial upgrades, cultivating new productive forces, and advancing Chinese-style modernisation.

On 24 October, the inaugural KPMG Future Entrepreneur Award ceremony was held in Shenzhen. Since the award was officially launched in March this year, it has undergone several months of rigorous selection and professional evaluation, recognising a group of outstanding entrepreneurs for their exceptional contributions to long-term enterprise development, innovation, internationalisation, and social responsibility. While achieving good business results, they have demonstrated forward-looking planning and solid practices for sustainable enterprise development, showing significant advantages in technological innovation and international competition.

This selection focused on the inheritance and breakthroughs, innovation, and sustainable development of Chinese private enterprises. The award ceremony attracted representatives of entrepreneurs, experts, and scholars from across the country, who gathered to discuss how enterprises can achieve orderly inheritance, governance upgrades, and innovative breakthroughs in the context of the new economy. Jacky Zou, Chairman, KPMG China, states, "The spirit of Chinese entrepreneurship continues to evolve with national development. Today's 'Future Entrepreneurs' are pioneers who break through to lead continuous innovation and plan for inheritance. They are bringing a qualitative leap to China's economic development with 'new productive forces', becoming the core engine in the modernisation process. KPMG hopes to uncover truly 'future-oriented' successful entrepreneurs through the establishment of the Future Entrepreneur Award, focusing on five core areas: strategic foresight, innovation, governance optimisation, operational resilience, and social responsibility. KPMG will also continue to leverage its expertise to support and assist in enterprise growth."

Four awards highlight the diverse ecosystem of future entrepreneurs

During the ceremony, the four awards were announced: 'Future Entrepreneur of the Year', 'Extraordinary Female Future Entrepreneur', 'Excellent Family Business Future Entrepreneur', and 'Outstanding Emerging Future Entrepreneur'. The awardees included not only technology entrepreneurs who have made breakthroughs in high-end manufacturing, new energy, and digital transformation but also exemplary business operators who have achieved generational handover through institutional governance and cultural inheritance, reflecting the leadership and forward-looking vision of entrepreneurs in the new era.

Michael Jiang, Head of Clients and Markets at KPMG China, states, "The Future Entrepreneur Award gather entrepreneurs from different stages of development. We hope that through this platform, mature entrepreneurs can see new trends and new forces, while growing entrepreneurs can more quickly integrate into an excellent business ecosystem, establishing a long-lasting connection mechanism of 'common progress and co-creating the future'. Entrepreneurs are not only drivers of economic growth but also bearers of social responsibility. The spirit of 'Future Entrepreneurs' should embody both innovation awareness and long-termism, daring to embrace change and promote breakthroughs in technology and business models while also being able to calmly build sustainable capabilities and organisations."

Forward-looking planning: exploring the path of transformation and innovation for private enterprises

In the face of the current complex environment and intense competition, private enterprises are embarking on paths of transformation and upgrading. The future entrepreneurs awarded this time are representatives who have grown through innovation and iteration. They either lead their companies to become leaders in niche markets, achieve efficiency improvements through digital transformation, or expand their reach through globalisation, transitioning from 'going out' to 'going in'. As these family-owned enterprises gradually enter a period of succession, both first-generation entrepreneurs and second-generation managers need not only traditional business operation skills but also mastery of digital tools, green transformation thinking, and cross-cultural communication skills. High-end manufacturing, green energy, digitalisation, and intelligent transformation are becoming new competitive focal points for family businesses.

In the face of these challenges, Karmen Yeung, National Head of Private Enterprise at KPMG China, states, "Family businesses can establish sound corporate governance systems to promote succession planning. Involving future successors in the design of these systems, organisational and management structure adjustments, as well as the establishment of important compliance and risk management systems, is more beneficial for a smooth inheritance transition. Additionally, considering the unique characteristics of family businesses, entrepreneurs can establish scientific and systematic family risk management systems and family governance frameworks to enhance overall risk control and response capabilities. Regarding human resources, family businesses can introduce a professional managerial succession mechanism to bring in professional management teams through market-oriented methods. This allows family members to participate in a wider variety of investment management, while also contributing more to society and achieving effective risk diversification."

The KPMG Future Entrepreneur Award is not only a recognition of outstanding entrepreneurs but also a profound interpretation of the spirit of entrepreneurship by KPMG, as well as a deep reflection and practical support for the future development of the private sector. Gary Zhou, Chief Marketing Officer at KPMG China, states, "Under the dual opportunities of policy and market, the awarded entrepreneurs demonstrate the characteristics of the entrepreneurial spirit in the new era. They navigate with innovation as their vessel and expand their territories with globalisation as their sail, all while shouldering the generational inheritance of enterprise spirit. Their practices are continuously injecting resilience and vitality into the high-quality development of the Chinese economy."
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