中经记者 方超 石英婧 上海报道 "十五五"规划建议重点提出，充分激发各类经营主体活力，落实民营经济促进法，从法律和制度上保障 平等使用生产要素、公平参与市场竞争、有效保护合法权益，发展壮大民营经济。在民营经济高质量发 展的大背景下，民营企业的代际传承越发受到外界关注。中国民营企业普遍面临治理结构缺陷与传承风 险、接班人培养与选择难题以及职业经理人与家族信任鸿沟等多重考验。 "全国超过四分之三的民营企业正面临代际传承的挑战，所有权'传内不传外'仍然是主流，但经营权正 逐步向'亲贤并举'转变，这一趋势也反映了中国民营企业的治理进化。"毕马威中国私人和家族企业服 务主管合伙人杨嘉燕向《中国经营报》记者表示。 据全国工商联日前发布的《2025研发投入前1000家民营企业创新状况报告》，2024年，研发投入前1000 家民营企业创新投入稳中有升，研发费用总额1.43万亿元，比上年增长2.78%，占全国企业研发经费支 出的39.64%。从研发强度（研发投入占营业收入比重）看，平均研发强度3.59%，高于全国研发投入强 度0.91个百分点。 杨嘉燕向记者表示："我认为民营企业在技术创新方面具有敏捷创新和快速迭代的优势。它 ...

Core Insights - Over 3 million private enterprises in China will face generational succession challenges in the next decade, involving asset scales reaching hundreds of billions [2] - The transition from "founder generation" to "second generation" leadership is a significant milestone for the Chinese private economy [2] - The second-generation successors generally possess international education and experience, focusing on digital transformation and global expansion [2][3] Succession Challenges - Only 30% of family businesses globally survive to the second generation, with less than 12% reaching the third generation [5] - Institutional governance, cultural integration, and clear delineation of responsibilities are core challenges faced by second-generation entrepreneurs [5] - Many private enterprises are establishing family offices and creating governance frameworks to ensure sustainable entrepreneurial spirit [5] Innovation and Global Expansion - Innovation has become a primary driver for many private enterprises, with significant increases in R&D investment [7] - Private enterprises are rapidly growing in number and quality, particularly in high-tech sectors such as AI and quantum communication [7] - The "going global" strategy is evolving from traditional product exports to comprehensive, high-quality global layouts [8] Investment Trends - Investment in "Belt and Road" countries is becoming a core growth area for private enterprises [8] - The focus of overseas mergers and acquisitions is shifting towards high-tech industries, with TMT, advanced manufacturing, and life sciences as the top three sectors [8] - Chinese private enterprises are leveraging breakthroughs in key technologies to enhance their global market presence [8]