On December 5th, regarding rumors of General Motors' plan to restructure its China business, General Motors China stated that its China business is a high-quality asset for our present and future. The cooperation and communication between General Motors and its joint venture partner SAIC Group are closer than ever to achieve profitability and sustainable development.
To achieve long-term development goals, General Motors is taking measures to reduce inventory, produce on demand, protect price systems, and lower fixed costs. Based on relevant effective measures, General Motors' sales and market share have achieved sustained growth. In the third quarter of this year, General Motors achieved quarter on quarter growth in both sales and market share in China, with new energy vehicle sales, including pure electric and plug-in hybrid vehicles, surpassing gasoline vehicles for the first time. In November, General Motors achieved a month on month increase in sales in China for the fifth consecutive month. Since the beginning of this year, dealer inventory has decreased by over 50%.