State Grid Corporation is the largest electric utility company in the world. It is state-owned and transmits and distributes power in China. Headquartered in the Xicheng District of Beijing, State Grid manages distribution from four regional subsidiaries. It also operates pumped storage power stations that produce hydropower in Hebei, Shandong, and Chongqing, China; and has overseas assets in the Philippines, Brazil, Portugal, Australia, etc. Founded in 2002, the company currently has more than 920,000 employees.