Suzhou Peacock Electronics Group Co. Ltd. (Suzhou Peacock) is an SOE located in Suzhou city, Jiangsu province. Suzhou Peacock was one of the first and largest TV producers in the country. Today its main product is a remote-controlled lamp. The firm derives most of its income from investments in two of its major affiliates: one JV with Philips and another JV with Matsushita. Four years after its formation of the JV with Philips in 1994, Ni Suping, the general manager of Suzhou Peacock, reflected on what remained with Suzhou Peacock after the formation of the JV:

Mr. Ni's account is a familiar tale in China's corporate scene in the 1990s. The firms that formed JVs with foreign firms in this manner – by capitalizing all of their major operating assets and brand names as equity stakes – had been among the best firms in China in the 1980s. Suzhou Peacock was founded in 1970 and was the first firm in the country to import a production assembly line and technology (from Sony) in 1979, at a time of great foreign exchange shortages.