On May 22, 1987, Panasonic and Beijing, People's Republic of China signed an agreement to establish a joint venture to produce picture tubes (CRTs) for color TV. This was the Panasonic's first investment in China in the post-war period. The new company, Beijing Matsushita Color CRT Co., Ltd., started production in June 1989 with some 1,400 employees. The company first produced 21" color picture tubes and later added all other major sizes of screens.
Deng XiaoPing visits Panasonic
Konosuke Matsushita talking to Deng XiaoPing during his visit to China