{
  "id": 16524346,
  "title": "Business excursion to China: UOB’s annual next-gen programme targets high-net-worth heirs",
  "url": "https://urgent.news/2026/10/25/business-excursion-to-china-uobs-annual-next-gen-programme-targets",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-25T21:00:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/business-excursion-to-china-uob-targets-high-net-worth-heirs-with-annual-next-gen-programme"
  },
  "original_language": "en",
  "account": "Singaporean second-generation business leader Yeo Zong Han recently journeyed to China, where he attended UOB Private Bank’s sixth annual Next Generation Programme. The trip, held from August 31 to September 4 in Shanghai and Hangzhou, allowed him to connect with leaders from leading Chinese companies, including Unitree Robotics, Ant Group, JinkoPower, YX Digital, and Semir Group. Accompanied by 25 participants aged 20 to 37 from seven markets, Yeo engaged in discussions about how businesses are integrating new technologies and changing their business strategies.\n\nThe bank’s Next Generation Programme, launched in 2020, targets high-net-worth individuals and their heirs, focusing on traits such as curiosity, leadership potential, and a willingness to learn. Yeo, a 28-year-old production manager at Ribar Industries, stressed the importance of strong business opportunities, government support, and access to grants in Singapore. However, he also highlighted the value of experiencing a larger and more competitive economy like China’s.\n\nDuring the visit, Yeo observed how businesses, such as Semir Group, were successfully transitioning to the next generation of operators and C-suite executives while maintaining growth. He emphasized the significance of employee career progression and work-life balance, given the demanding nature of the construction industry. Yeo, who graduated from the University of Queensland with an economics degree, acknowledged the challenge of recruiting younger talent due to family businesses' reliance on unwritten rules, traditions, and implicit structures.\n\nKristen Geng, a property development entrepreneur from Australia, joined the programme as a rare opportunity to step outside her usual business environment. She highlighted the importance of communication in intergenerational wealth transfer, a topic that resonated deeply given the sensitive nature of discussing money within families. The UOB programme also visited the China Europe International Business School Centre for Family Heritage, where Yeo learned about legacy planning.\n\nUOB Private Bank head Chew Mun Yew explained that the bank's programmes are driven by clients' urgency to groom successors, as many are first-generation wealth creators. He noted a growing focus on preparing incoming family leaders earlier and more intentionally, aiming to manage businesses, preserve wealth, and sustain legacy across generations.",
  "summary": "The bank took 26 participants to meet companies in Shanghai and Hangzhou.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}