China: Wanxiang Group¡ªA Emerging World-Class Enterprise

Wanxiang Group was founded in the 1970's. Now, it has bearing, joint ,rubber seals, transmission shaft,brake etc.series products. It employs staff of more than31,000 . In 2003, It conquer difficulties on power and steel, realized income of 15.2billion RMB, tax 135.8 million RMB, foreign exchange 380 million USD. After more than 30 years¡¯ accumulation, it now has 25 manufacturing enterprises; owns 26 enterprises in America, Canada, Germany, Australia, Uk etc., many of them are purchased enterprises of same trade. In2003,Wanxiang Group succeed purchasing Rockford company and GBC company of America, its solar energy silicon was adopted by ¡°Shenzhou¡± spaceship, became No.1 share holder of ¡°Minshen Insurance ¡±,purchased Zhejiang Entrust Company¡­ The target of Group is to achieve net profit 10 million RMB/day in 2009.