China's soft drink maker Jianlibao is reshuffling its upper management after severe financial crisis.

Internet portal site sina.com quoted an email from the company on Thursday as saying 29 senior managers including chief financial officer and general manager for the capital center have been sacked.

Earlier, domestic media reported that the company was trapped in financial dilemma because of speculative investment in the stock market.

Sanshui government of southern China's Guangdong Province, where the company is located, is taking every measure to help it out.

Jianlibao was established in 1984 and became famous around the world by advertising at the Los Angeles summer Olympics.

(Xinhua News Agency December 20, 2004)