Basic Company Information
Company Advantage
Detail Company Introduction
China General Technology (Group) Holding Co Ltd (Genertec) is a wholly-state-owned company owned by the whole people that established in March 1998.
As the fruit of China’s strategic restructuring of state-owned enterprises, Genertec grouped six companies, including the China National Technical Import and Export Corp, China National Machinery Import and Export (Group) Corp, China National Instruments Import and Export Corp, China National Corporation for Overseas Economic Corporation, China National Medicine and Health Products Import and Export Corp and China International Advertising Corp. By merging these large foreign trade companies, most of which had a history of about 50 years, and fully exploiting their resources advantages, Genertec becomes a large-scale, specialized, intensive and integrated business with dramatically improved market competitiveness, anti-risk capability and comprehensive profitability.
In the last 5 years, Genertec witnessed a stable growth in its core business of foreign trade. Its annual import and export volume stayed at a comparatively high level of around US$7 billion, which secured a place for the company in the top 10 of China’s 500 largest foreign traders. The company boasts outstanding business performances. The value-keeping and appreciation rate of the state assets held by the company has been over 108% annually on average and reached 112.9% in 2002. Genertec’s total assets reached 18.7 billion yuan at the end of 2002. The value of the company’s net assets at home and abroad increased by 57%, and its assets and liabilities ratio went down by 12%. Meanwhile, the company has stepped into new business areas. Through strategic investment and mergers and acquisitions, it has built an initial development platform for the research, manufacturing and trade of medical products. The company also has made remarkable achievements in financial services and real estate development.
Embracing economic globalization and the opportunities and challenges brought by China’s entry into the World Trade Organization, Genertec mapped out new development strategies with new business focuses and targets in 2001 to ensure long-term sustainable development amid profound internal and external changes. In 2002, Genertec further carried out massive strategic adjustment and business reorganization according to the principles of speciliged operation and Matrics restructure management. After the reorganization, specialized branches of the company start to initiate their own business development plans, conduct business activities and share business information within the overall frame work of the group company. Turning these branches into profit-making centers, the group can maximize its overall interests and gradually become a service provider concerning project management and commodity distribution chain in all related fields it is specialized. At the beginning of 2003, Genertec started comprehensive reforms and adjustment of its core business of foreign trade and greatly fostered the growth of its new business pillars in the medical and financial sectors. To comprehensively improve its management and sharpen its core competitive edges, the company kicked off an information program to turn itself into a “new digital enterprise.” It also implemented a new human resources development strategy, a new wage system and a relatively scientific internal rewarding mechanism to best encourage hard-working staff and trail-blazing activities. Besides, the company continues to take capital management as a forceful way to drive its development with active and steady mergers and acquisitions, as well as assets reorganization, in order to further improve asset quality, foster core business and achieve low-cost business expansion.
Genertec has 12 departments and 24 direct business subsidiaries at home and abroad, including CNTIC Trading Co. Ltd, which is listed at the Shanghai Stock Exchange. Genertec and its branch firms have opened outlets in nearly 30 countries and regions and established stable trade and cooperation ties with more than 100 countries and regions throughout the world.
According to its development strategy, Genertec, based on the service sectors, will take the trade of key technology and complete set of equipment, machinery and electronics as its major business. It will gradually realize a strategic shift from a trader to a service provider involving project management and commodity distribution chain through an overall promotion of professional management levels and value-added customer services. It targets at becoming a multinational business group with comprehensive business strength and competitive advantages through strategic investment and expansion of business scopes, such as the fostering and development of new core business areas including medicines and finance.
Genertec will continue to strengthen its supreme management concept of “maximizing the rights and interests of its shareholders, the satisfaction of its customers and the opportunity development space of its staff.” The company will keep developing its corporate culture characterized by brand consciousness, innovation spirit and strong internal cohesiveness under the company’s core values of “unity, co-operation, innovation, honesty, humanism, creation and value-added services.”
Genertec is willing to enhance cooperation and exchanges with friends from all walks of life both at home and abroad to jointly make splendid achievements in the new century.
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