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 March 31, 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) 489-5490
                           ---------------------------
                           (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 November 3, 2000 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 March 31, 2001 and 2000                   3

              Statements of Income,
              Three Months ended March 31, 2001 and 2000                    4

              Statement of Changes in Stockholders' Equity,
              Three Months Ended March 31, 2001 and 2000                    5

              Statements of Cash Flows,
              Three Months Ended March 31, 2001 and 2000                    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
                                   Balance Sheets
                              (A Development Company)
                              March 31, 2001 and 2000

                                                         2001            2000

                                       ASSETS


CURRENT ASSETS
  Cash                                                $ 81,068         $110,644
  Note Receivable                                            0          100,000
                                                      --------         --------

TOTAL ASSETS                                          $ 81,068         $210,644
                                                      ========         ========


                             LIABILITIES AND
                           STOCKHOLDERS' EQUITY


LIABILITIES:
  Accounts Payable                                    $    800         $    620
  Loans Payable Shareholders                                 0            2,093
                                                      --------         --------
      TOTAL LIABILITIES                               $    800         $  2,713


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
    at December 31, 2001 and 2000.                         368              368
  Additional Paid-in Capital                           452,132          452,132
  Accumulated Deficit                                 (372,232)        (244,569)
                                                      --------         --------
      TOTAL STOCKHOLDERS' EQUITY                        80,268          207,931
                                                      --------         --------

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY                                $ 81,068         $210,644
                                                      ========         ========


                                       3
<PAGE>

                      Great Wall Food and Beverage Corporation
                                Statements of Income
                              (A Development Company)
                     Three Months Ended March 31, 2001 and 2000


                                                  2001                   2000

REVENUES:
    TOTAL REVENUES                             $      0               $       0


EXPENSES
    DEVELOPMENT STAGE EXPENSES                   17,420                  10,890

    REMEASUREMENT LOSS                               83                       2
                                               --------               ---------
      NET LOSS                                 $(17,503)              $ (10,892)
                                               ========               =========

      NET LOSS PER SHARE                       $  (0.005)             $  (0.003)
                                               =========              =========

      WEIGHTED AVERAGE COMMON
        SHARES OUTSTANDING                     3,676,664              3,676,664
                                               =========              =========





                                       4
<PAGE>
<TABLE>
<CAPTION>


                                         Great Wall Food and Beverage Corporation
                                       Statements of Changes in Stockholders' Equity
                                          Years Ended December 31, 2000 and 1999



                                         Preferred Stock           Common Stock
                                         Par Value $.001          Par Value $.001         Additional                    Total
                                    ------------------------  -------------------------    Paid-In      Retained     Stockholders'
                                     Shares          Amount    Shares           Amount     Capital      Earnings        Equity
                                    --------       ---------  --------       ----------  -----------  -------------  -------------
<S>                                     <C>            <C>    <C>               <C>        <C>          <C>            <C>
Balance at January 1, 1999                -              -    3,676,664         $ 368      $452,132     $(233,677)     $218,823

Net Loss March 31, 2000                                                                                   (10,892)      (10,892)
                                    ----------------------------------------------------------------------------------------------

Balance at March 31, 2000                 -              -    3,676,664           368       452,132      (244,569)      207,931

Net Loss April 1 to
December 31, 2000                                                                                        (110,160)     (110,160)
                                    ----------------------------------------------------------------------------------------------

Balance at December 31, 2000              -              -    3,676,664         $ 368      $452,132     $(354,729)     $ 97,771

Net Loss March 31, 2001                                                                                   (17,503)      (17,503)
                                    ----------------------------------------------------------------------------------------------

Balance at March 31, 2001                 -              -    3,676,664         $ 368      $452,132     $(372,232)     $ 80,268
                                    ==============================================================================================
</TABLE>





                                                                5
<PAGE>
                    Great Wall Food and Beverage Corporation
                            Statements of Cash Flows
               For the Three Months Ended March 31, 2001 and 2000



                                                           2001           2000
                                                           ----           ----
Cash flows from operating activities:
  Net Loss                                              $(17,503)      $(10,892)
  Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Deposits
    Accounts payable                                           0            620
                                                        --------        -------
  Net cash utilized by operating activities              (17,503)       (10,272)

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

Cash flows from financing activities:
  Net cash provided from financing activities                  0              0
                                                        --------       --------
Net Increase in Cash                                     (17,503)       (10,272)

Cash & Cash Equivalents balance at January 1,             98,571        120,916
                                                        --------       --------
Cash & Cash Equivalents balance at March 31,            $ 81,068       $110,644
                                                        ========       ========







                                       6

<PAGE>


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

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

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.



                                       7
<PAGE>


NOTE 2 - NOTE RECEIVABLE

The note  receivable  represents  deposits in the amount of $100,000 made by the
Company on  equipment to be purchased  which was not  completed.  The issuer has
negotiated  a written  agreement  on the refund of the  deposit in five  monthly
payments.  The final  payment was due September 1, 2000.  Two payments  totaling
$40,000  were  made  during  the  year  2000  and the  remainder  of the note is
currently in default.  Management has decided to establish an allowance equal to
the remaining balance of the note receivable.  Should any portion of the note be
collected in the future, it would be recognized as income in that period.

NOTE 3 - 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 5 - 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  liguidation  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 6 - RELATED PARTY TRANSACTIONS

The Company neither owns or leases any real property.  Fees totaling $500 and $0
were paid to companies owned by shareholders  during the periods ended March 31,
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 March 31, 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:  May 7, 2001               By: /s/ Patti Cooke
                                      -----------------------------------------
                                      Patti Cooke, President and Principal
                                      Executive, Accounting Officer and Director

Dated:  May 7, 2001               By: /s/ Bradley R. Wilson
                                      -----------------------------------------
                                      Bradley R. Wilson, Vice President and
                                      Principal Executive Financial Officer and
                                      Director





                                       11