Gree increases salaries of its employees

Updated 2016-11-25 15:27:58 China Daily
An outlet of Gree Electric Appliances Inc in Yichang, Hubei province. (Photo/China Daily)

An outlet of Gree Electric Appliances Inc in Yichang, Hubei province. (Photo/China Daily)

Employees who had been working for Gree Electric Appliances Inc for over three months received a Thanksgiving gift from the company on Thursday. Each of them will get an additional 1,000 yuan (4.66) per month from December, according to a report by Beijing Youth Daily.

Around 70,000 employees in the company are entitled to this salary increase, which means Gree's wage costs will rise by more than 800 million yuan per year, Beijing Youth Daily said.

An internal announcement said that as the company has achieved production automation through independent innovation, the salary rise is aimed at sharing the company's innovation fruit with all the workers.

"The company, which is facing opportunities and challenges brought by the industry's revolution, is actively optimizing its industrial distribution and exploring new paths and modes for the transformation and upgrading. And the task cannot be accomplished without every employee's efforts," said the announcement.

The decision of salary increase was put forward by Dong Mingzhu, the Chinese businesswoman who chairs the company, according to a person familiar with the matter.

In October, Dong was removed from the chairman and president positions of Gree Group, Gree's State-owned parent company, by the State-owned Assets Supervision and Administration Commission of Zhuhai City, although she remains as the head of Gree Electric Appliances Inc.

The move is based on the new regulations that one individual cannot be chairman of both a holding group and a listed company.

Under Dong, Gree has developed into a top domestic air-conditioning manufacturer and its revenue last year reached 100 billion yuan (.7 billion).

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 22 2018 14:24:03

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 22 2018 14:24:03

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 22 2018 14:24:03

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords