Founded in 1968, Midea is renowned as a sizeable conglomerate that specializes in the manufacturing of household appliances and sets foot in relevant fields of real estates and logistics. It is now one of the largest white household appliance production bases and export bases in China. Midea formally entered into the household appliance industry in 1980, and started to use the brand name of Midea in 1981. Today, Midea Group has up to 100,000 employees and owns over ten famous brands in various industries, namely Midea and Welling etc. Apart from its headquarter in Shunde, the Group has established production bases scattered in Guangzhou, Zhongshan, Wuhu, Wuhan, Huai'an, Kunming, Changsha, Hefei, Chongqing and Suzhou, etc. The base in Pingyang,Vietnam has put into production. Oppossessing an extensive marketing network spreading all over China, the Group also has established twenty-one overseas branch subsidiaries in countries and areas such as U.S.A, England, Germany, Japan, Hong Kong, Korea, Canada,Russia,France,Malaysia and Vietnam. Currently, Midea holds the largest and most complete production chains for air-conditioner,refrigrator, microwave oven,small home appliances and kitchen utensil groups in China. Its core products include residential AC, commercial AC, large-scale central AC, washing machine, electric cooker, refrigerator, water dispenser, microwave oven, dish washer, induction cooker,electric fan, electric warmer, water heater, kitchen range, range hood, sterilizing cabinet, electric chafing dish, electric oven, vacuum cleaner, small household appliances and other homehold appliance products, as well as other supporting products, such as compressor, electric motor, magnetron and transformer. Midea has been growing in healthy, steady and rapid steps. It successfully achieved an average growth rate of 60% and 50% respectively in the 80s and the 90s. Since the arrival of the new millennium, Midea maintains a growth rate of 35% annually. In 2007, sales revenue of Midea increased by 30% and hit a record of 75 billion Yuan, while export sales went up by 40% to 3.12 billion USD compared to 2006. In the assessment of ChinaMost Valuable Brands 2007, brand value of Midea ranks No.7 by surging to 37.829 billion Yuan. In Jun 2007, Midea ranked the 3rd in the list of Guangdong's Top 100 Enterprises by Guangdong Enterprise Union Committee and Guangdong Enterprise Association. In October 2007, Midea was placed 52nd by National Bureau of Statistics among the China's Top 500 Large-scale Enterprise Groups. While keeping a rapid growth, Midea also makes active contribution for local economic development. Since 1990, Midea has paid tax totaling 10 billion Yuan and donated nearly 120 million Yuan for social welfare and the cause of education. Looking into the future, Midea will continue to believe effective, healthly and scientific development principle and establish the industrial patterns for diversified industries, scale development, professional operation, regionalized operation and differentiated management. Midea owns a healthy financial structure and apparent advantages in its core competence, and possesses the preliminary ability of resource allocation in a global context. The Group aims at maximizing its integrated value and further improving its corporate structure and management system. In 2010, Midea will strive to become the most valuable brand of home appliances of China and an internationalized consumer electrical appliances manufacturing super giant and ascend before the 5th of white household appliance suppliers in the world, with record-breaking sales revenue of 120 billion Yuan.