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Rich Second Generation

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Rich Second Generation

Staff deal with cash at a branch of Industrial and Commercial Bank of China Limited (ICBC) on Mar. 14, 2011 in Huaibei, Anhui Province, China.

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Definition:

Rich second generation are Chinese men born into rich families after the 1980s. These men tend to be eligible to inherit lots of money and assets from their parents.

China has had rapid development of private enterprises during the past three decades. These first generation entrepreneurs are getting older and nearing retirement and their children, the rich second generation, are getting ready to take their places.

The term rich second generation has increasingly had a negative connotation as stories have emerged in the media of rich second generation members engaged in bad behavior but their connections have kept them out of trouble. Famous cases include Li Qiming (李启铭) and Yao Jiaxin (药家鑫).

While driving his Volkswagen, Li Qiming, 22, hit two women at Hebei University in October 2010. Li, who was intoxicated, tried to flee. When stopped by security guards, he shouted ”我爸是李刚” (My father is Li Gang!). Li thought his father’s position as the deputy police chief of Beishi district in Baoding would keep him out of trouble.

Though the Chinese government tried to censor the story to avoid public uproar, “My father is Li Gang” became a tongue-in-cheek catchphrase used by many people in China to shirk work. In January 2011, Li was arrested and sentenced to six years in jail and ordered to pay the victims.

Yao Jiaxin hit a woman who was riding a bike with his Chevrolet. Fearful of getting in trouble and having difficulty hiding the accident, Yao stabbed the woman six times before she bled to death. Yao, a Xian Conservatory of Music student, is currently on trial. Netizens believe Yao’s family will use their connections to bribe authorities for a lighter sentence.

Chinese Words - Frequently Used Chinese Words

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Pronunciation: guān èr dài, fù èr dài
Also Known As: 官二代 (guān èr dài) or 富二代 (fù èr dài), Princelings
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