Hisense is rapidly emerging as one of China’s leading multinationals. Like many other Chinese corporations, Hisense traces its origins back to a state-owned manufacturer,in this case Qingdao No. 2 Radio Factory, which was established in 1969 with just 10 employees. In the 1970s, the state-owned factory diversified into the manufacture of TV sets, and by the 1980s it was one of China’s leading manufacturers of color TVs, making sets designed by Matsushita under license. In 1992, a 35-year old engineer named Zhou Houjian was appointed head of the enterprise. In 1994, the shackles of state ownership were relaxed when the Hisense Company Ltd was established, with Zhou as CEO (he is now Chairman of the Board).