Jin Feipeng, the owner of Jiu Ding Clock, is determined to keep family values and traditions alive. provided to china daily

To the owner of Jiu Ding Clock, taking over the family business is more than just an obligatory duty

A month after arriving in London for his studies, Jin Feipeng started spending his weekends peddling bags, fashion accessories and DVDs at a market. Most people would have mistaken the then 17-year-old for someone who was struggling to make ends meet, but little did they know that it was merely a matter of pride and passion.

“I wanted to earn and spend my own money instead of having my parents pay for my living expenses, and that’s why I chose to be a peddler,” said Jin, whose wealthy father owned Shanghai Jiu Ding Clock, a successful business dealing with standing clocks.

While most students in Jin’s gilded shoes would have taken to exploring the British capital and hanging out with new found friends, the Wenzhou native was single-minded in his resolve to hone his business acumen while carving a living for himself in a foreign land. Besides his weekend sales outings at the market, the Thames Valley University student had also sublet two rooms in his home to other students as well as juggled jobs at bars and restaurants.

Jin, who studied a bachelor’s degree in business and marketing, was handed the reins to the family business upon returning to China in 2005. And just like his experience in London, he was bent on making sure things were a little different. Jin felt that his father’s business lacked ambition and foresight, and he was determined to set the bar higher.

Having realized that the company would stagnate if it remained just an Original Equipment Manufacturer (OEM) for clock replacements and clocks owned by international brands, Jin immediately stopped most work orders and started his bold revamp of the decade-old business.

The goal? To become a reputable brand that manufactures high-end luxury clocks primarily for the domestic market.

Jin shook up the entire organization of the company by making major changes to the production line and staffing. To accomplish his objective, he even hired a team of experts to invent an efficient, industrial microwave technology to improve the drying process of the solid wood applied to clocks. Naturally, there was some pushback. Many among the senior management team were skeptical about the new direction. However, Jin’s father had pledged his unwavering support.

And Jin’s move proved to be a master stroke — the company managed to shorten the duration required for drying from 48 hours to six hours, providing a boost to efficiency and production.

Within the first four years of Jin taking over the business, Jiu Ding’s clocks had achieved a remarkable makeover. They now include original German clock movements, high quality gears within a solid wooden casing, and come with a unique finish available in a variety of colors.

In 2008, Jin upped the ante and took the next step in the quest for perfection, ploughing 8 million yuan ($1.3 million) into efforts to invent a highly precise mechanical movement for the clock. Having been refined over the years, Jin claims that the company’s unique mechanical movement has a monthly deviation of just two seconds. The international standard for high-level professional mechanical watches is a daily deviation of five seconds.

Jiu Ding now has several upscale stores in Shanghai and the price of their clocks range from 20,000 yuan to 1 million yuan. According to their website, the company has an annual sales turnover of $3 million. But Jin is not about to take a back seat, lead a life of leisure and just count the profits from his armchair. These days, the 31-year-old can usually be found seated beside the sagely craftsmen in the work studios, getting his hands dirty and learning the intricacies of the clock-making trade.

“We aim to produce the most precise and delicate timepieces here at Jiu Ding and we want to make sure that the beauty of the traditional handicraft is not lost on the next generation,” said Jin.

But in reality, it’s more than just the preservation of an ancient craft. In the Jin household, it’s also about passing down family values. Besides being driven by his passion for entrepreneurship and putting his bachelor’s degree to good use, Jin said everything he has done for the business is a way of paying tribute to his father who painstakingly built up the company with sweat and tears.

And this becomes even more poignant considering that not many people are willing to take over their family business these days.

According to the 2013 China Family Enterprise Development Report, which polled more than 3,000 private enterprises in China, only 19 percent of the second generation respondents from these companies are willing to take over the businesses.

“I really appreciate the fact that my father handed over his company to me. To me, it’s a lifetime gift — one that allows me to learn from the mistakes and lessons that it comes with,” said Jin.

The exquisite clocks that customers will find at Jiu Ding’s stores may cost a fortune, but most would agree that Jin’s rare passion for carrying on the family tradition is simply priceless.