When people in most parts of the world want to buy a personal computer, they usually think first of the well-known brands: Compaq, Dell Computer, and IBM, for example.

Not so in China. There the branded PC of choice is called Legend. Never heard of it? Perhaps not for long, if Liu Chuanzhi has his way. Since 1984, Liu, the chairman of Legend Holdings, has built his company into China's (and Asia's) number-one manufacturer of PCs, with more than $3 billion in revenue. Legend expects to double that figure in three years.

Although still controlled by the state, Legend is a public company, and its shares trade on the Stock Exchange of Hong Kong. Liu is a forceful advocate for going public and a pioneer in China in the use of stock options. In the following interview, conducted in Hong Kong by Allan Gold, Glenn Leibowitz, and Tony Perkins, Liu discussed the challenge of shaping a successful market-based company in China and the prospects for Legend in the hypercompetitive technology sector.

The Quarterly: Please tell us about the origins of Legend and how you went about building...