UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 30549




                                   FORM 10-QSB




(MarkOne)

[X]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934
                                    For the quarterly period ended June 30, 2001

[  ] TRANSACTION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
                        For the transition period from            to
                                                       ----------    -----------

                                                 Commission file number: 0-27489
                                                                         -------

                    Great Wall Food and Beverage Corporation
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            Florida                                              59-2624574
-------------------------------                              -------------------
(State or Other Jurisdiction of                              (IRS Employer
Incorporation or Organization)                               Identification No.)

1543 Bayview Avenue, Suite 409, Toronto, Ontario, Canada M4G3B5
---------------------------------------------------------------
             (Address of principal executive offices)

                                 (416) 271-5285
                           ---------------------------
                           (Issuer's telephone number)


               ---------------------------------------------------
               (Former name, former address and former fiscal year
                         (if changed since last report)




                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a Court. Yes [ ] No [ ]




                      APPLICABLE ONLY TO CORPORATE ISSUERS

The  number of shares  outstanding  of each of the  issuer's  classes  of common
equity, as of August 5, 2001 was 3,676,664 shares of common stock.

Transitional Small Business Disclosure Format (Check one):  Yes [X]  No [  ]

<PAGE>

                                      INDEX

                                                                           Page
                                                                          Number
                                                                          ------

Part I.  Financial Information


     Item 1.  Financial Statements

              Balance Sheet as of June 20, 2001 and
              December 31, 2000                                             3

              Condensed Statement of Loss,
              Three Months ended June 30, 2001 and 2000,
              Six Months ended June 30, 2001 and 2000, and
              Since Inception                                               4

              Condensed Statements of Cash Flows,
              Three Six Ended June 30, 2001 and 2000
              and Since Inception                                           6

              Notes to Financial Statements                                 7

     Item 2.  Plan of Operation                                             9


Part II. Other Information

     Item 1.  Legal Proceedings                                            10

     Item 2.  Changes in Securities                                        10

     Item 3.  Defaults in Senior Securities                                10

     Item 4.  Submission of Matters to a Vote of Securities Holders        10

     Item 5.  Other Information                                            10

     Item 6.  Exhibits and Reports on Form 8-K                             10


                                       2
<PAGE>

                         PART I - FINANCIAL INFORMATION


Item 1.  Financial Statements
-----------------------------


                    Great Wall Food and Beverage Corporation
                            Condensed Balance Sheets
                             (A Development Company)
                                   (Unaudited)

                                                    06/30/2001       12/31/2000

                                     ASSETS


CURRENT ASSETS
  Cash                                               $ 60,289         $ 98,571
                                                     --------         --------

TOTAL ASSETS                                         $ 60,289         $ 98,571
                                                     ========         ========


                            LIABILITIES AND
                         STOCKHOLDERS' EQUITY


LIABILITIES:
  Accounts Payable                                   $    800         $    800
                                                     --------         --------
      TOTAL LIABILITIES                              $    800         $    800


STOCKHOLDERS' EQUITY
  Preferred Stock, $.0001 par
    value; authorized 20,000 shares
    no issued and outstanding shares
  Common Stock, $.0001 par value;
    authorized 80,000,000 shares,
    issued and outstanding 3,676,664
    and 3,676,664 shares at
    June 30, 2001 and December 31, 2000.                  368              368
  Additional Paid-in Capital                          452,132          452,132
  Accumulated Deficit                                (393,011)        (354,729)
                                                     --------         --------
      TOTAL STOCKHOLDERS' EQUITY                       59,489           97,771
                                                     --------         --------

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY                               $ 60,289         $ 98,571
                                                     ========         ========




                                       3

<PAGE>
<TABLE>
<CAPTION>


                                              Great Wall Food and Beverage Corporation
                                                    Condensed Statements of Loss
                                                   (A Development Stage Company)
                                                            (Unaudited)


                                   -----------------------------     --------------------------    ----------
                                            Three Months                     Six Months              Since
                                      6/30/01          6/30/00          6/30/01       6/30/00      Inception
                                   -----------------------------     --------------------------    ----------

<S>                                 <C>              <C>              <C>            <C>            <C>
REVENUES:
    TOTAL REVENUES                  $      0         $       0        $       0      $      0       $      0


EXPENSES
    DEVELOPMENT STAGE EXPENSES        20,860            12,563           38,279         23,453        392,589

    REMEASUREMENT LOSS (GAIN)            (80)               (1)               3              1            422
                                    ---------     ------------        ---------      ---------      ---------
      NET LOSS                      $( 20,780)       $( 12,562)       $( 38,282)     $( 23,454)     $(393,011)
                                    =========     ============        =========      =========      =========


Loss per common share
  basic earnings per share          $(   .066)       $(   .003)       $(   .010)     $(   .006)
                                    =========     ============        =========      =========

Weighted average shares
  outstanding                       3,676,664        3,676,664        3,676,664      3,676,664
                                    =========     ============        =========      =========



</TABLE>

                                                                4
<PAGE>
<TABLE>
<CAPTION>

                             Great Wall Food and Beverage Corporation
                               Condensed Statements of Cash Flows
                                  (A Development Stage Company)
                                           (Unaudited)
                                                      -------------------------------     ------------
                                                                                             Since
                                                         For the Six Months Ended          Inception
                                                      -------------------------------     ------------
                                                              2001             2000
                                                              ----             ----
<S>                                                         <C>              <C>          <C>
Cash flows from operating activities:
  Net Loss                                                  $(38,282)        $(23,454)    $(393,011)
  Adjustments to reconcile net loss
    to net cash provided by operating activities:
                                                                                                800
    Notes receivable                                                           40,000
    Attorney escrow receivable                                                (34,350)
                                                            --------         --------     ---------
  Net cash utilized by operating activities                  (38,282)         (17,804)     (392,211)

Cash flows from investing activities:
  Net cash utilized by investing activities                        0                0             0

Cash flows from financing activities:
    Proceeds from issuance of common stock                         0                0       452,500
                                                            --------         --------     ---------
  Net cash provided from financing activities                      0                0       452,500
                                                            --------         --------     ---------
Net Decrease in Cash                                         (38,282)         (17,804)       60,289

Cash & Cash Equivalents balance at January 1,                 98,571          120,916             0
                                                            --------         --------     ---------
Cash & Cash Equivalents balance at June 30,                 $ 60,289         $103,112     $  60,289
                                                            ========         ========     =========

</TABLE>

                                                      5
<PAGE>


Great Wall Food and Beverage Corporation
(A Development Stage Company)
 Notes to the Condensed Financial Statements

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying  unaudited condensed financial statements have been Prepared in
accordance with generally accepted  accounting  principles for interim financial
information  and with Article 10 of  Regulation  S-X.  Accordingly,  they do not
include all of the  information  and  footnotes  required by generally  accepted
accounting principles for complete financial statements.  All adjustments which,
in the opinion of management,  are considered  necessary for a fair presentation
of the results of  operations  for the periods  shown are of a normal  recurring
nature and have been reflected in the unaudited condensed financial  statements.
The  results  of  operations  for the  periods  presented  are  not  necessarily
indicative  of the results  expected  for the full fiscal year or for any future
period.  The  information   included  in  these  unaudited  condensed  financial
statements  should be read in conjunction  with Plan of Operation and Results of
Operations   contained  in  this  report  and  the  financial   statements   and
accompanying notes included in the Great Wall Food and Beverage Corporation (the
"Company")  Annual  Report on Form 10-K for the fiscal year ended  December  31,
2000.

Business and Organization

Great Wall Food and Beverage  Corporation (the "Company"),  a development  stage
company,  was  incorporated  in the State of Florida on August 1, 1980 as Ronnie
Interior Designs,  Inc. for the purpose of acquiring or merging with an existing
operating company.

On October 14, 1997,  Ronnie Interior  Designs,  Inc. changed its name to Ronnie
Systems, Inc.

On  March  13,  1998,   the  Company   amended  and  restated  its  articles  of
incorporation and changed its name to Great Wall Food and Beverage Corporation.

Development Stage

The Company has operated as a development  stage  enterprise since its inception
by devoting  substantially  all its efforts to the  ongoing  development  of the
Company.

Accounting Method

The Company's  financial  statements  are prepared  using the accrual  method of
accounting. The Company has elected a calendar year end of December 31.

Loss per Share

The  computation  of loss per share of common  stock is based upon the  weighted
average common shares outstanding during each period.


                                       6
<PAGE>



Development Stage

The Company has operated as a development  stage enterprise since it s inception
by devoting  substantially all of its efforts to the ongoing  development of the
Company.

Foreign Currency Translation

During 1999 the Company opened a bank account  denominated in a foreign currency
which  is used  to pay for  some  operational  expenses.  The  bank  account  is
translated  using  rates of  exchange  at March 31 2001 and 2000;  expenses  are
translated at weighted  average  exchange  rates in effect during the year.  The
cumulative  effect  resulting from such translation is recorded as remeasurement
loss in the financial statements.

NOTE 2 - STOCKHOLDER'S EQUITY

The Company had the following classes of capital stock:

Series A Preferred  Stock,  $0.0001  par value;  authorized  20,000,000  shares;
issued and outstanding -0- shares.

Common stock, $0.0001 par value, 80,000,000 shares authorized,  3,676,664 shares
issued and outstanding at March 31, 2001 and 2000 respectively.

NOTE 3 - GOING CONCERN

The Company's  financial  statements are prepared  using the generally  accepted
accounting  principles  applicable to a going concern,  which  contemplates  the
realization  of assets and  liquidation  of  liabilities in the normal course of
business.  However,  the  Company  has no  current  source of  revenue.  Without
realization  of  additional  capital,  it would be  unlikely  for the Company to
continue as a going concern.  It is  management's  intention to seek  additional
capital through a merger with an existing operating company and raising capital.

NOTE 4 - INCOME TAXES

For  financial  reporting  purposes,  a valuation  allowance of $60,946 has been
recognized to offset the net deferred tax assets related to these  carryforwards
and other deferred tax assets since  realization of any portion of the Company's
deferred tax asset is not  considered  to be more likely than not. The change in
the  valuation  allowance  for the years  ended  December  31, 2000 and 1999 was
$16,247 and $34,561 respectively.

Deferred income taxes reflect the net effects of temporary  differences  between
the carrying amounts of assets and liabilities for financial  reporting purposes
and the amounts  used for income tax  purposes.  Significant  components  of the
Company's deferred tax liabilities and assets are as follows:


                                       7


<PAGE>


                                            2001         2000
Deferred tax assets:
Net operating loss carryforwards         $ 60,946     $ 44,699
                                         --------     --------
Total deferred tax assets                  60,946       44,699
Valuation allowance for
  deferred tax assets                     (60,946)     (44,699)
                                         --------     --------
                                                0            0
                                         ========     ========

The Company has incurred net operating losses since  inception.  At December 31,
2000 and 1999 the Company had  approximately  $304,728 and $184,783 in operating
loss carryforwards that expire in various amounts from 2018 through 2020.


NOTE 5 - RELATED PARTY TRANSACTIONS

The Company  neither owns or leases any real property.  Fees totaling $7,880 and
$14,390 were paid to companies  owned by  shareholders  during the periods ended
June 30, 2001 and 2000 for  administrative  and consulting  services rendered on
behalf of the Company. The officers and directors of the Company are involved in
other  business  activities  and may,  in the future,  become  involved in other
business opportunities.










                                       8
<PAGE>


Item 2.  Plan of Operation
-------  -----------------

     The Issuer has completed the registration of its Common Stock under Section
12(g) of the Securities  Exchange Act of 1934 ("Exchange Act"). It is continuing
its efforts to find a new business opportunity. The Issuer will seek and attempt
to enter into a business  combination  of acquisition of assets by which it will
become  engaged in an active  business  venture.  It is likely  that,  if such a
transaction is made, it will involve control of the Issuer being acquired by the
other party to the transaction.

     There are no  present  arrangements  for,,  or  ongoing  negotiations  with
respect  to,  such a business  combination  with the  Issuer.  The Issuer has no
present knowledge of any specific candidate for a business combination. Issuer's
management  believes  that it has  sufficient  funds to pursue  its search for a
potential  business  combination  for at least the period  through  September of
2001.  It is not  presently  possible  to  predict if any  business  combination
entered  into by the Issuer  during  that  period  will  require  the raising of
additional capital.

     The Issuer has entered into a written  agreement  under which the equipment
manufacturer with whom the Issuer had made a $100,000 advance deposit has agreed
to return the deposit in five monthly  installments  of $20,000 of the first day
of each month  commencing  May 1, 2000.  The Issuer  received  two  payments  of
$20,000 each under the settlement  agreement.  The manufacturer has indicated it
is unable or unwilling to complete the payments. The Issuer is in the process of
beginning collection proceedings against the other party.


                                       9
<PAGE>

                           PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

         Not Applicable


Item 2.  Changes in Securities

         Not Applicable


Item 3.  Defaults in Senior Securities

         Not Applicable


Item 4.  Submission of Matters to a Vote of Securities Holders

         Not Applicable


Item 5.  Other Information

         Not Applicable

Item 6.  Exhibit and Reports on Form 8-K

         (a)      Exhibits:  Not Applicable

         (b)      Form 8-Ks

                  No  Reports  of Form 8-K were  filed  during  the  three-month
period ended June 30, 2001.








                                       10
<PAGE>

                                   SIGNATURES
                                   ----------

In  accordance  with the Exchange Act, the  registrant  caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

                                  GREAT WALL FOOD AND BEVERAGE CORPORATION

Dated:  August 9, 2001            By: /s/ Patti Cooke
                                      -----------------------------------------
                                      Patti Cooke, President and Principal
                                      Executive, Accounting Officer and Director

Dated:  August 9, 2001            By: /s/ Bradley R. Wilson
                                      -----------------------------------------
                                      Bradley R. Wilson, Vice President and
                                      Principal Executive Financial Officer and
                                      Director





                                       11