Apr. 7, 2008 (China Knowledge) - The Procter & Gamble Company (P&G), one of the largest consumer products companies in the world, has announced that its employees in China can buy the company's shares, sources reported. According to the company's global Employee Stock Ownership Plan, P&G's China employees could buy the company stocks from overseas markets by deducting 1% to 5% from their monthly paycheck starting from this month. P&G is the first company in China which got the approval from the state foreign currency watchdog on such plan. More than 7,000 employees will be encouraged to buy the shares and benefit from the company's long-term development, said the report. P&G China won a quota of US$4.74 million from the government for the purchasing of P&G stocks overseas. P&G's global Employee Stock Ownership Plan was launched at the end of 19th century. By 1980, this plan took up 14% of P&G's total stock shares. Copyright © 2008 www.chinaknowledge.com Send feedback or comments to: news@chinaknowledge.com For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI
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