General Motors, which can stand for the world's largest automobile company - General Motors Company of America, GM (General Motos); can also stand for the world's largest diversified service company --General Electric Company GE (General Electrics).
GM Introduction
General Motors (GM) is the world's largest automobile company, with core automotive businesses and subsidiaries around the globe,*** employing 325,000 people. GM was developed by William Crapo Durant (1861-1947) in September 1908 on the basis of the Buick Motor Company and was founded in Detroit, the Motor City of the United States. It is still headquartered in Detroit. The logo GM is the first letter of the first two words of its English name (General Motor Corporation). GM has been a global leader in the automobile industry since 1931. GM has established automobile manufacturing operations in 33 countries and sells its products in more than 200 countries. 2005, GM sold 9.17 million cars and trucks worldwide. GM's global headquarters is located at the GM Renaissance Center in Detroit.
GM is the holding company for GM Daewoo Motors and Technologies in South Korea, and has strategic partnerships with Suzuki Motor Corporation and Isuzu Motors Corporation in Japan for products, powertrain and joint purchasing. GM is also cooperating with DaimlerChrysler, BMW and Toyota in the field of new energy technologies. In addition, GM also works with Toyota Motor Corporation, Suzuki Motor Corporation, China Shanghai Automotive Industry (Group) Corporation, Russia's AVTOVAZ Automobile Company and France's Renault Motor*** in the development and production of automobiles.
GM's car and truck brands include: Buick (BUICK), Cadillac (Cadillac), Chevrolet (Chevrolet), GMC, GM Daewoo (GM DAEWOO), Holden, Hummer, Opel, Pontiac, Saab, and Pontiac. (Saab), Saturn.
GM's Aftermarket and Parts Business Unit markets automotive parts through the GM, GM Goodwrench, and AC Deco brands; while GM Powertrain markets automotive engines and transmissions.
General Motors Financial Services (GMAC), a division of General Motors Corporation, is the world's leading financial services company, providing automotive and commercial loans, mortgage financing, and insurance services businesses to customers worldwide. GM OnStar is an industry leader in automotive safety and information services. Other key GM businesses include Hughes Electronics, which provides digital television entertainment services and satellite services, and GM Locomotive, which builds diesel-electric locomotives and commercial diesel engines.
GM was ranked fifth on the 2007 Fortune Global 500 ranking of the world's largest companies.
GM History
GM's predecessor was the Buick Motor Company, which was founded in 1907 by David Dunbar Buick, and in 1904 William Durant, America's largest horse-drawn carriage maker, bought and became general manager of the company, at the same time that the Model C was introduced. To market the car, Durant quickly established a distribution network and attracted large orders - far beyond the company's production capacity. By 1908, Buick had become the nation's leading automobile manufacturer, and Durant, eager to put an end to the hundreds of companies that existed in the automobile industry at that time, strongly supported Benjamin Criske's proposal to merge Buick, Ford, Maxwell Briscoe, Olds, and other major automobile companies, but the negotiations fell through when Ford asked for as much as $8 million to merge the companies. million dollars and ended in failure. That same year, Durant formed General Motors (GM), an automobile holding company based on Buick and Oz, and in 1909 merged two other small automobile companies, Oakland Motors (now the Pontiac Division) and Cadillac Motors.
From the outset, Durant pointed to a three-dimensional strategy for the company, namely to produce different brands of automobiles to suit a wide range of tastes and purchasing power, to diversify as much as possible within the field of automotive engineering, and to implement backward integration into automotive parts production. By 1910, the company had acquired 17 small automobile companies. However, too rapid growth soon put the company in financial difficulties, and a group of bankers gained control of the company with a five-member management committee controlled by them, of which Durant was only one member.In 1918, DuPont acquired a 23 percent stake in General Motors for $50 million, thus becoming the company's largest shareholder, and in 1919 this holding rose to 28.7 percent. In this context, Durant gradually extricated himself from the business activities of General Motors and in 1911 formed the Chevrolet Motor Company, which in 1915 introduced a new inexpensive car, the Model 490, to rival the Model T of the Ford Motor Company.
At the same time, he allied himself with DuPont to secretly buy General Motors stock. In 1915, he publicly announced that he would exchange five shares of Chevrolet stock for one share of GM stock, thus regaining control of GM in 1916 and resuming the presidency of the company. During this period, the company successively merged the Rapid Car Company and the Integrity Truck Company to form the GM Truck Company in 1911, purchased the Sampson Sill Tractor Company in the same year, and, in 1913, purchased the Sanitary Refrigerator Company (later the Frigidaire Division) as well as the Champion Spark Plug Company (later renamed AC Spark Plugs), among others. After regaining control, Durant merged Shelton Motors, 60% of Fischer Motors, and Canadian automaker McLaughlin Motors (later GM Canada). During World War I, the company produced a large number of trucks, ambulances, and airplane engines for the troops. After the end of the war, the company also strengthened the wholesale marketing of its products by establishing the General Motors Acceptance Company, which was a great success.
In 1919, General Motors became the fifth-largest industrial corporation in the United States, and its share of the U.S. market reached 17% in 1920, far below Ford Motor Company's 43%, but considerable. However, the Great Depression in 1920 put the company in trouble again, Durant was forced to retire early, and sold all his GM shares to the DuPont family, so that DuPont's shareholding in GM rose to 37%. JP Morgan also took advantage of the opportunity to obtain a part of General Motors, thus forming the DuPont family and the Morgan family **** with the control of the GM situation, DuPont to company Dupont replaced Durant as the company's new president as chairman and largest shareholder. DuPont as president of the first thing is to approve the company's president of the joint-named car company Alfred D Sloan Jr.'s reform plan, the company's management system to carry out a comprehensive reorganization, the establishment of anti-centralized divisional management system, which is the famous Sloan model.
After Sloan became president of the company in 1923, he rationalized the company's sections and even the duplication of production lines, and the company entered a period of rapid development, merging the Yellow Car Manufacturing Company and several aircraft companies, launching the 1925 Chevrolet sedan to compete with Ford, modernizing the design of automobiles, and implementing the "one car" model, which is suitable for one type of financial resources and demand objectives. It modernized automobile design, adopted the strategy of "one car for one financial and demand objective" and introduced one new model every year, thus leaving Ford Motor Company far behind. By 1927, GM had become the dominant player in the U.S. automobile industry, with a 43% share of the domestic market, a position it maintains to this day, remaining profitable and paying dividends to its shareholders even during the Great Depression. During the Second World War, the company received a large number of military orders, the total price of up to 1308.1 billion U.S. dollars, during the war, the United States of America 1/4 of the tanks, armored vehicles and aircraft, 1/2 of the bullets and rifles, 2/3 of the heavy-duty automobiles are from General Motors.
After World War II, GM decision-makers, recognizing that there would be an automotive boom, introduced larger, more profitable small cars and consolidated their dominant position in the automotive market and gained a major position in other product markets as well, becoming the largest military supply contractor in the U.S. After Eisenhower was elected President in 1952, company president Charlie Wilson became Secretary of Defense.In 1955, General Motors became the first company in the world to post annual profits of more than $1 billion.In 1986, company chairman Sloan retired and published his book My Years at General Motors in 1963, which became a management classic.However, GM's immense size made it a target of public opinion critical of the economic conglomerate, and the Department of Justice tried to get the DuPont family to sell its 23 percent of GM stock, but the DuPonts maintained their position as major shareholders until the mid-1960s. At the same time, the company's "bigger is better" approach to automobile design was being challenged, and the economic crisis of 1957-1958 led to an upsurge in demand for small, economical cars. General Motors developed the Corvair, a compact car, in response to this shift in demand, but this poorly designed economy car was a major embarrassment to the company. From the 1960s onwards, foreign compact cars entered the United States in large numbers to meet the demand for small economy cars, and the oil embargo in the early 1970s reinforced this trend. The company was forced to devote a great deal of effort to the development of compact cars, and invested two billion dollars in the development of a line of front-wheel-drive compact cars, the X-car, which was not very successful, and the company began to operate in the red. Nonetheless, during the 1970s they saw a relatively large rise in sales, from $35.725 billion in 1975 to $66.311 billion in 1979, and a rise in sales profits from $1.253 billion to $2.891 billion, with a market share still as high as 47%.
After the 1980s, GM began a difficult journey of innovation. As early as 1979, the company began production of small front-wheel drive cars and began a 10-year, $70 billion equipment replacement program to restructure and cost-cutting activities. 1980, GM sold the Frigidaire division and the Terex division. 1981, Roger Smith became the chief business leader after a large-scale restructuring restructuring activities, laying off thousands of employees, and introduced the J-type car, which was designed to replace Japanese imports; in 1983, it invested $150 million in a joint venture with Japan's Toyota to establish the New United Automobile Manufacturing Company, which used the Japanese company's manufacturing technology to produce small cars in California; in 1984, GM invested $2.5 billion in the acquisition of Electronic Data Systems; and, in 1985, it announced the formation of the Saturn Corporation, which produced small cars in a Japanese-style plant in Tennessee, and the $4.7 billion purchase of Hughes Aircraft Manufacturing Company. At the same time, GM started more than 50 joint ventures with other companies, ranging from robotics manufacturing to artificial intelligence ventures, in order, in Smith's words, to discover the key to the 21st century.
However, fierce competition from foreign imports and Ford Motor Company forced GM to reduce its production capacity, lay off tens of thousands of workers, and drastically reduce its payroll, while pursuing a strategy of captive imports - that is, companies in other countries would build small cars for GM that it would sell in the United States, while the Quality problems with the Saturn caused the company to recall 1/3 of its cars for repairs five months after they were introduced to the market, and it eventually had to fork over $2.1 billion to cover the cost of closing the plant, which directly contributed to the company's huge loss in 1990, and GM's market share plummeted from 47% in 1979 to 35% in 1989.In 1990, the company introduced the Sutton, the company's first new brand of automobile since 1926, at a cost of more than $2 billion.In 1991, GM once again suffered a loss of nearly $5 billion, making it the largest corporate deficit ever recorded in the United States. Under these circumstances, Chairman Robert Stemple was forced to announce the closure of more than 20 plants in the U.S. and Canada over a three-year period and layoffs of more than 74,000 workers.In the fall of 1991, Stemple announced the implementation of a structural reorganization, combining four divisions, including casting, engine assembly, and driveline systems into a single division, and reducing the production of traditional engines from nine to five, while at the same time launching three different models of four-cylinder engines and introducing a new type of engine. At the same time, three different types of 4-cylinder engines were launched and a new type of engine was introduced. Nonetheless, in the spring of 1992, many members of the board of directors, led by former Proctor & Gamble president John Smale, removed Stemple's heir, Lloyd Rouse, from the presidency of the company and installed John Smale as chairman of the executive committee. In April of that year, GM undertook the largest stock offering ever in the United States, raising $2.2 billion to ease its financial difficulties. It seems that General Motors has reached another critical juncture of management innovation.
In recent years, fierce competition from overseas manufacturers has threatened GM's industrial dominance. Faced with challenges from its main rivals DaimlerChylser, Ford and Honda, GM has set its sights on expanding into global markets, including hiring a former Toyota consultant to help them enter the Japanese market. (The company also held significant stakes in Suzuki and Isuzu; in 1999, GM increased its stake in Isuzu to 49% and purchased a 10% stake in Suzuki.) In late 1998, the first Buicks for the Chinese market were produced in a joint venture with SAIC. By entering the inexpensive vehicle markets of Brazil and Russia, GM was broadening its overseas consumer markets, building its customer base and establishing its brand, all a big step ahead of its competitors.
In 1981 GM made the decision to move production facilities to developing countries and began laying off workers. Over the course of nearly a decade, GM laid off thousands of employees, including many third-generation GM workers who left the company's base in Flint, Michigan, financially strapped.GM gained a bad name for itself, and with the release of Michael Moore's documentary on layoffs, Roger&Me, GM's public image was severely tarnished.
In 1996, the autoworker's joint strike paralyzed 24 North American plants for nearly three weeks. The strike ended, but the problem was not solved, and the seven-week strike in 1998 had a dramatic impact on its quarterly gross national production report: GM lost nearly $2.8 billion during that period, and as a result, production in North America was stalled. Strangely enough, GM's subsidiary Saturn was welcomed with open arms, and the company's automobiles were extremely attractive. This is entirely due to the good corporate image of Saturn: the employees are well treated, which in turn creates an ideal working environment.
Recovering from the 1998 strike, GM has embarked on a new program of cost reduction. Making small cars profitable is a key focus for the company, which now loses about $500 to $600 on every small car sold. In the "Yellowstone" program, GM's goal is to reduce costs and increase productivity. This was accomplished by having suppliers assist in designing and assembling parts before shipment, thus saving time and money, and in 1998 the automotive giant combined its North American and international operations. To rationalize the operation, in May 1999 GM spun off Delphi Automotive, the mainstay of producing auto parts, as a separate division.
In 2004, for the fourth consecutive year, GM set industry sales records for total truck and sport utility vehicle sales in its largest market, the United States. In its second-largest market, China, GM's sales grew 27 percent, setting a new company record.
GM's Major Products
(1) Automotive Products: Includes the manufacture, assembly, and sale of automobiles, trucks, public ****vehicles, and related parts and accessories.In 1993, the company sold 43 million vehicles of all styles, accounting for 35% of the U.S. market and 7% of the world market, including 7,451,000 small cars and light trucks (1990). The company's principal makes of automobiles are Chevrolet, Buick, Mediacorp, Oldsmobile, Cadillac, and Saturn, produced by 30 automotive assembly plants, 29 distribution centers, and package storage facilities located throughout the U.S. and operated by more than 10,000 dealerships distributed nationwide.In 1991, 79% of the company's revenues were derived from the automotive division.
(2) Finance and insurance: the principal business unit is General Motors Acceptance Corporation, which finances the purchase of GM products. In addition, the company provides insurance to dealers and consumers, and engages in mortgage banking, marine finance, and investment services. Nine percent of the company's revenues in 1991 came from this segment.
(3) Other products: mainly data processing, telecommunication services performed by Electronic Data Systems, and the arms business, particularly missile systems, performed by GM Hughes Electronics, which became the fourth largest arms contractor in the U.S. in 1991 and is also the major U.S. supplier of commercial satellites, including military vehicles, radar, weapons control systems, guided missile systems, and military satellites. In addition, both companies are engaged in the design, installation and operation of commercial information and telecommunications systems, research, development and manufacture of locomotives, as well as the production of compressors, generators and turbine engines for marine vessels, among others.
GM Partners
GM's global strategic partners include Fiat Automobiles of Italy, Fuji Heavy Industries, Ltd. of Japan, Isuzu Motors Corporation, and Suzuki Motor Corporation, in product, powertrain, and joint purchasing. GM is also the largest shareholder of GM Daewoo Automotive Technology in Korea. In addition, GM has technical collaboration with BMW of Germany and Honda Motor Company of Japan, as well as joint R&D and production of automobiles with Toyota Motor Corporation, Isuzu Motors Corporation, China's Shanghai Automotive Industry Corporation, Russia's AVTOVAZ Automobile Company and France's Renault Motor***.
GM Brands
GM's car and truck brands include Buick, Cadillac, Chevrolet, GMC, Holden, Hummer, Opel, Pontiac, Saab, Saturn and Volvo. In some countries, GM's sales network also sells automotive products manufactured by GM Daewoo, Isuzu, Fuji (Speedwave) and Suzuki. GM's Aftermarket and Parts business unit markets automotive parts through the GM, GM Goodwrench, and AC Deco brands, while GM Powertrain markets automotive engines and transmissions. General Motors Financial Services Company (GMAC), a subsidiary of General Motors Corporation, is a leading global financial services company that provides automotive and commercial loans, mortgage financing, and insurance to customers around the world. GM Onstar is an industry leader in automotive safety and information services.
GM in China
General Motors has been in China for more than 80 years. Currently, GM employs more than 20,000 people in China. 2005 sales of GM China and its joint ventures in China totaled 665,390 units, a 35.2 percent increase over the same period in 2004. GM imports, produces and sells Cadillac, Saab, Opel, Buick, Chevrolet and Wuling brands in China, and has the largest product lineup of any multinational automotive company in China, including mid-range and premium sedans, utility wagons, compact cars and minivans.
GM's vision in China is to be the best participant and supporter of China's automotive industry, together with its strategic partners.
In order to realize this goal, GM will continue to work hand in hand with the Chinese automotive industry. GM's business in China has always been guided by the following five principles: Commitment to long-term development in China, and establish and maintain a cooperative relationship that benefits GM, China and the Chinese people; Extensive involvement in the production, sales, design and testing of vehicles and components; Active participation in technical exchanges to stay ahead of the curve; Commitment to developing the management and professional skills of Chinese employees; Integration of the China We are committed to developing the management and professional skills of our Chinese employees, and integrating our China operations into our global network to ensure that we provide the highest quality products and services to the Chinese market.
GM China's businesses in China include:
Shanghai General Motors (SGM) is China's most advanced vehicle manufacturing joint venture, a 50/50 joint venture between General Motors Corporation (GM) and Shanghai Automotive Industry (Group) Corporation (SAIC). Established in June 1997, this is the largest Sino-US joint venture in China.
Shanghai General Motors now has four brands, Cadillac, Buick, Chevrolet and Saab, forming the Cadillac CTS, Cadillac SRX, Cadillac XLR; Buick Ronggu Sedan, Buick Junwai Sedan, Buick GL8 Business Wagon Series, Buick Kaiyue Series; Chevrolet Jingcheng Sedan, Chevrolet LOVA Sedan, Chevrolet Le Ride Sedan, Chevrolet Sailor Compact Sedan; Saab 9-Xiobo Sedan, Chevrolet Sailor Compact Sedan, Chevrolet Sailor Compact Sedan. Compact sedan; Saab 9-3 sports sedan, Saab 9-3 high-end convertible sedan, Saab 9-5 sports sedan 16 series of more than 50 varieties of product matrix, with a complete sales, after-sales service and parts supply network throughout the country.
At present, SGM owns 3 production bases in Jinqiao, Yantai and Shenyang, 4 vehicle production plants in Jinqiao South Plant, Jinqiao North Plant, Yantai Dongyue Automobile and Shenyang Beisheng Automobile, as well as 2 powertrain plants in Jinqiao Powertrain and Yantai Dongyue Powertrain. The annual production capacity of Jinqiao base is 320,000 vehicles, 100,000 automatic transmissions and 200,000 engines; the annual design capacity of Yantai base is 120,000 vehicles and 375,000 engines; the annual design capacity of Shenyang base is 40,000 vehicles. The total annual production capacity of SGM can reach 480,000 vehicles, and its scale and strength are among the top in domestic automobile enterprises.
Shanghai General Motors Beisheng Automobile Co., Ltd. is located in Shenyang City, Liaoning Province, formerly known as Jinbei General Motors Co. In March 2004, SAIC, GM China and Shanghai General Motors reorganized Jinbei General Motors, with SAIC and GM China each owning a 25% equity stake, and Shanghai General Motors holding a 50% equity stake. Its product planning, manufacturing, parts procurement, information system, quality system and human resource management are all integrated into the management system of Shanghai GM. SGM Beisheng Automobile (Shenyang) currently has an annual design capacity of 50,000 units in three shifts, and has been producing the GL8 business wagon since September 2004.
Shanghai General Motors Dongyue Automobile Co., Ltd. is a new company established after Shanghai Automotive Industry Group Corporation, General Motors China, and Shanghai General Motors Corporation*** jointly invested 900 million yuan to acquire all the shares of the former Shandong Yantai Body Co. The company is located in Yantai City, Shandong Province, and is currently SGM's second production base. In April 2003, the company began production of the Buick Scion. SGM Dongyue's annual design capacity is 100,000 complete vehicles in two shifts.
Shanghai GM Dongyue Powertrain Co., Ltd. is a new joint venture located in Yantai, Shandong Province. Formerly known as Shandong Daewoo Automobile Engine Co., Ltd. and put into production in August 1996, the company was reorganized in March 2004, with SAIC and GM China each taking a 25% stake in the new company, and the joint venture between the two, Shanghai General Motors, taking a 50% stake. The reorganized SGM Dongyue Powertrain Co., Ltd. is responsible for the daily operation and management by Shanghai General Motors. SGM Dongyue Powertrain's design capacity is 375,000 engines per year in three shifts and two operations.
SAIC-GM-Wuling Automobile Co., Ltd. is a joint venture company formed by SAIC, GM and Wuling in June 2002*** with a total investment of US$99.6 million, and the shareholdings of the three parties are 50.1%, 34% and 15.9% respectively. The company is located in Liuzhou City, Guangxi Zhuang Autonomous Region, and produces four series***210 varieties of models: commercial vehicles, mini-vans, mini-double-row trucks and mini-single-row trucks, and it is the second largest mini-vehicle producer in China in terms of sales volume. SAIC-GM-Wuling's current annual production capacity is 300,000 units.
The Pan Asia Automotive Technology Center Co., Ltd. is a 50-50 joint venture between GM and SAIC with a joint investment of US$50 million. As the first automotive engineering joint venture in China, it provides a range of automotive engineering services, including design, development, testing, and component and vehicle certification, to automotive companies in China and the Asia-Pacific region. The restructuring projects of Shanghai GM's Buick Grandview and Buick Caddy products are completed by Pan Asia Automotive Technology Center.
SAIC-GM Finance Co., Ltd. is the first auto finance company in China. By one of the world's largest auto finance companies, General Motors Financial Services Company and Shanghai Automotive Group Finance Company Limited *** with the formation of a joint venture. Its current main business is to provide wholesale and retail credit and other financial services for the automobile sales of GM and SAIC joint ventures and related cooperative enterprises in China in both wholesale and retail areas.
Located in Shanghai Waigaoqiao Free Trade Zone, GM Warehouse & Trading (Shanghai) Co., Ltd. was formally launched in August 1999 as a wholly-owned parts distribution center invested by GM with US$3.2 million. Its establishment ensures that GM provides genuine GM parts and components to customers in mainland China in a timely manner. At the same time, the center adopts a set of comprehensive computerized warehousing management and inventory control system, which currently stores about 25,000 kinds of parts.
General Motors (China) Investment Co., Ltd. is a wholly owned enterprise established by General Motors Corporation in Shanghai, with all the local employees of GM in China, and is also the investor of GM's joint ventures in China. Sales, marketing and after-sales service of imported vehicles is one of the business operations of GM China. GM China imports Opel vehicles from GM plants around the world and markets them in China. GM's after-sales service system supports authorized service centers and parts distributors nationwide.
The GM-SJTU Technology Research Institute is an institute established by GM in cooperation with Shanghai Jiao Tong University, which is dedicated to technical training and cooperation in research projects. There are three institutes under it: the Powertrain Research Institute, the PACE Center and the Satellite Laboratory for Body Manufacturing Technology.
The GM-Tsinghua University Institute of Technology was established by GM and Tsinghua University, and is dedicated to *** with research and development and other scientific and technological cooperation.
ACDelco is a leading global auto parts brand with nearly 40 wholesalers and more than 100 ACDelco service centers in China. It provides genuine ACDelco parts and repair and maintenance services to all automotive and manufacturing manufacturers in China. ACDelco also offers 15 product lines in China.
Allison Transmission Division is the world's largest manufacturer of automatic transmissions for medium- and heavy-duty trucks, public ****cars and specialty vehicles. Allison Transmission is currently working with Chinese vehicle equipment manufacturers and end users to improve the quality of their medium and heavy commercial vehicles.
GE Profile
General Electric (GE) General Electrics is the world's largest diversified service company and a provider of consumer products for high-quality, high-tech industries. From aircraft engines and power generation equipment to financial services, from medical imaging and television programs to plastics, GE is committed to creating a better life through a number of technologies and services.GE operates in more than 100 countries around the world and employs nearly 300,000 people worldwide. Mr. Jeff Immelt has served as Chairman and Chief Executive Officer of GE since September 7, 2001, succeeding Jack Welch.
History of GE
GE traces its history back to Thomas Edison, who founded the Edison Electric Light Company in 1878, and the merger of the Edison General Electric Company and the Thompson-Houston Electric Company in 1892 to form General Electric Company (GE), the only company to have remained on the Dow Jones Industrial Average since it was established in 1896. list of the Dow Jones Industrial Average since its inception in 1896.
GE in China
As early as 1906, GE began to develop trade with China, and was one of the most active and influential foreign companies in China at that time. 1908, GE established the first light bulb factory in Shenyang. 1934, GE bought the Sims Trading Company, and began to provide the installation and maintenance services of imported electrical equipment in China. 1979. GE re-established trade relations with the People's Republic of China. 1991, the first joint venture, GE Aviation Medical Systems, was established in Beijing. To date, all of GE's industrial product groups have a presence in China, with more than 12,000 employees and more than 50 operating entities. With the gradual opening of the market after China's accession to the WTO, GE's financial business is also actively seeking opportunities for development in China. 2006 GE's sales revenue in China amounted to US$5.4 billion.
In addition to its business activities, GE also encourages itself as a responsible corporate citizen. In 2006 alone, nearly 3,000 GE employees organized more than 70 community volunteer projects in the Greater China region,*** contributing more than 20,000 hours of service to a number of public welfare causes, including education, children's health and development, elderly care, and environmental protection. ***Communities in 18 different regions have benefited from these programs (including Beijing, Chongqing, Gansu, Guangzhou, Hangzhou, Hong Kong, Qinhuangdao, Shanghai, Taiwan, Wuxi, Zengcheng, Zhongshan, Shenzhen, Pengzhou, Shenyang, Harbin and Xuzhou).