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"The Firsts" Special> 30 Years of Reform and Opening Up> "The Firsts"
UPDATED: December-2-2008 Web Exclusive
Joint-venture Company

On April 10, 1980, the Beijing Aviation Food Co. Ltd., the first joint-venture company on the Chinese mainland was approved by the government. It aimed to provide an air-catering service for the flights which would open up between the Chinese mainland and the United States. The total investment was 5.88 million yuan (approximately $3.92 million), of which the Civil Aviation Administration of China (CAAC) held a 51 percent share and Maxim's Catering Ltd., Hong Kong's largest food and beverage corporation and restaurant chain, possessed 49 percent. It started business on May 1 the same year.

(Source: Xinhua)

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