In the aftermath of General Motors going bankrupt yesterday, the Detroit automaker continued its attempts at downsizing by selling Hummer to Sichuan Tengzhong Heavy Industrial Machinery Co. of China. GM said the sale will likely save more than 3,000 U.S. jobs in manufacturing, engineering and at various Hummer dealerships.

As part of the proposed transaction, Hummer will continue to contract vehicle manufacturing and business services from GM during a transitional period. For example, GM’s Shreveport, La., assembly plant would continue to contract to assemble the H3 and H3T through at least 2010.

Sichuan Tengzhong deals in road construction, plastics, resins and other industrial products, but Hummer would be its first step into the automotive business. After filing for chapter 11 bankruptcy yesterday, GM has stated it will plan to sell its Saturn and Saab brands as well, while concentrating on Chevrolet, Cadillac, Buick and GMC.