I wonder where did you get such impression. What is the age of you "new generation of entrepreneurs" in question?

People in their thirties and forties make by far the largest cohort of entrepreneurs I know who can support the claim of them making their businesses from scratch, and not being part of state economy machine.

Notably, I knew DJI when they still were a "garage company," along with half of "Shanzhai" crowd.

On other hand, just anybody who somehow got $1m+ out of nowhere in China in nineties would've been a man "from the system." The few ways somebody made such money in China back then were: 1. land auction fraud, 2. privatisation auction fraud, 3. embezzlement from funds of the state or state company, 4. being a relative of somebody who did anything of above.