Is Zhuyuan Hotel the first Sino-foreign joint venture hotel in New China?

Shenzhen Zhuyuan Hotel is one of the first Sino-foreign joint venture hotels after the founding of New China. The hotel was registered in 1980 10 and officially opened on 10/25/0/9810. In March of the same year, Zhuyuan Hotel Trade Union was established, becoming the first Sino-foreign joint venture hotel trade union organization in New China. 1April 1982, Zhuyuan Hotel also took the lead in implementing the salary system reform, introducing the mode of post salary plus floating salary, breaking the traditional concept of iron rice bowl and creating a precedent for this salary system.