More college students hampered by poverty will benefit from the 1 million Chinese yuan contribution
Beijing, China, July 9, 2006 - ABB, the leading power and automation technology group, today donated another CNY 1 million to the New Great Wall Project run by the China Foundation for Poverty Alleviation, in an effort to support college students from disadvantaged families to complete their college education. This is a second contribution following the US$100,000 donation to the same program last year.
"Education is the pre-requisite for social and economic development," said Han Yu, Senior Vice President of ABB in charge of HR affairs. "Sources show that one third of college students in China are struggling in poverty. College dropouts due to lack of financial support presents a challenge for us all. "
"As the world leader in power and automation technologies, ABB has a deep understanding of the importance of nurturing talents." Han Yu continues, "It is our indispensable responsibility to offer a helping hand to those students in need. We look forward to more participation from other enterprises, and other walks of life to care more about the disadvantaged. It is our hope that poverty alleviation through education can become a fashion in the society."
Last year, ABB donated 100,000 US dollars and established a fund in collaboration with China Foundation for Poverty Alleviation, one of the largest NGOs in poverty alleviation, aiming at helping the college students in poverty to complete their college education. Up to date, the fund has financed 400 students from 20 colleges or universities majoring in power engineering. The donation announced today will continue to support those 400 students, and an additional 60 students from 3 more universities.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impacts. The ABB Group of companies operates in around 100 countries and employs about 104,000 people worldwide. ABB has a full range of business activities in China, including manufacturing, R&D, sales and service, with 8,500 employees, 25 joint ventures and wholly owned companies, and an extensive sales and service network across 30 cities. To know more about ABB, visit www.abb.com.cn .