Chinese fridge manufacturer Wang Guoduan, a man with only 7 years of formal education, is

Chinese fridge manufacturer Wang Guoduan, a man with only 7 years of formal education, is proving you dont have to be a Netrepreneur to take on the world. His is a more old-fashioned success story. Until Wang visited the Guangzhou trade fair in 1983, he had never even seen a fridge. At the time, he was managing a decrepit, state-owned rice-cooker factory in the Guangdong province backwater of Rongqi(pop. 60 000). But today his township enterprise is Chinas largest and most successful refrigerator maker. Last year his Guangdong Kelon Electrical Holdings Co. sold $ 677 million of refrigerators, air-conditioners and other "white goods", commanding nearly a quarter of the domestic market. Already popular in the U. S. , Kelon products are breaking into Europe and Southeast Asia. Now, with China poised to enter the World Trade Organization, Wang has a make-or-break opportunity. WTO market liberalization could increase competitive pressures—harming firms like Kelon—experts warn. But Kelon executives counter that the firm is already competing on level terms against U. S. companies like Whirlpool, which manufactures in China, and will also benefit from falling tariffs in its export markets. "We just have to become even smarter," says Wang. Like many other non-Internet Chinese companies, Kelon will soon find out if its older model still works in a new economy. Until now the company has been as hot as a fridge maker can be. Kelon has repeatedly won awards as the best-run and most investor-friendly company in China, ahead of such leaders as China Telecom and computer giant Legend. Prominent analysts have declared that "Kelon is the best managed company in China. " That helps explain the companys stellar returns: since 1994, profit attributable to shareholders has risen by more than 500%. Last year Kelon produced 2. 2 million, making it one of the worlds top manufacturers. But the boom may be approaching its end as the market for refrigerators in Chinas cities nears saturation. A sluggish economy and increased competition brought about by economic reforms are squeezing profit margins. Despite record sales last year, the company reported a 1.3% fall in operating profit. It has responded by targeting Chinas secondary cities and rural areas, where refrigerators are so rare that many owners proudly display them in the living room, not the kitchen. The company has also branched out into air-conditioners, which it hopes will become Chinas next consumer-appliance fad. Says Rachel Tsang of Vickers Ballas Securities in Hong Kong, "What Kelon has done is revolutionary. The future may depend on whether it can start another revolution. " And theres no reason to suppose it wont, if Wang Guoduan and Kelon keep on humming.

We can infer from the first paragraph of this passage that______.

A．if you want to be a successful man you should spend much time in school

B．Wang Guoduan had learned much about fridge before becoming famous

C．Guangdong Kelon Electrical Holdings Co. is an enterprise owned by state

D．Kelon products have become famous both at home and abroad

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