While many market-protecting rules remain in place, business experts agree that China's newly-acquired membership to the global trade club will grant foreign firms more commercial latitude when it comes to setting up a business on the mainland.
Some even say that the days of the typical joint venture company are numbered, as foreign firms gain greater and greater autonomy.
"Over the past two to three years there has been a trend of foreign investments without a Chinese partner, and the number of joint ventures founded has been decreasing, said Fudan University professor of economics, Hua Ming.
"This is especially true after China's entry into the WTO," he said, noting that exclusively foreign-owned companies in China would severely challenge inefficient state owned enterprises.
The ease which most international companies can penetrate the Chinese market without a partner as well as WTO regulations has not only created competition, but also forced Chinese companies that can no longer rely on government connections to become competitive, said White.
For PepsiCo, which has expanded aggressively throughout the country, its commercial options remain hampered, however, by legal restrictions which stipulate foreign brand beverage makers must tie their fortunes to a local partner.
According to Yunli, the US drinks group venture made pre-tax profits of 236 million yuan (US$28.8 million) last year, of which PepsiCo received around 46 million yuan.
While a loss-making enterprise is often a primary reason behind corporate breakups, profits do not appear to be the central issue in this acrimonious split.
PepsiCo has said it wants to find a new joint venture partner committed to "observing law and order, mutual trust and transparent decision-making".
"The break-up of a joint venture is not unlike the break-up of a marriage. Companies part because there are fundamental differences in the way they see things or in the direction they want to go," said White.
Professor Hua hinted that PepsiCo's actions signal another trend among multinationals in the country.
"Many years after foreign companies enter into China they will get rid of their domestic partner or find a domestic partner that will listen to their words," he said.
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