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China's first Sino-foreign joint venture
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11:08, November 11, 2008

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On May 1, 1980, Beijing Air Catering Co., Ltd. (BACL) officially opened its business.

It was the first Sino-foreign joint venture in China since its reform and opening up.

After nearly 30 years of development, BACL has become a modern air-catering company with a daily catering capacity of 80,000 meals, providing air-catering services to nearly 400 airplanes from over 50 different airlines at home and abroad.

China has achieved rapid growth in its introduction of foreign capital over the past 30 years.

By the end of the first half of 2008, China had approved a total of 650,000 foreign-funded enterprises, utilizing over US $800 billion of foreign capital.

By People's Daily Online

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