UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Pursuant to Section 16(a)
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
(X) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
American Flavors China, Inc.
Florence Sender, President
1007 Chestnut Street
Newton, MA 02164
2. Issuer Name and Ticker or Trading Symbol
China Premium Food Corporation
(formerly China Peregrine Food Corporation)
CHPF
3. IRS or Social Security Number of Reporting Person (Voluntary)
N/A
4. Statement for Month/Year
December, 1999
5. If Amendment, Date of Original (Month/Year)
N/A
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Reporting (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
___________________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C> <C> <C>
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect
|Transaction| | or Disposed of (D) | Securities |ect | Beneficial Ownership
|Date |Code| | Beneficially |(D)or |
| | | | A/| | Owned at |Indir |
| | | Amount | D | Price| End of Year |ect(I)|
___________________________________________________________________________________________________________________________________
Common Stock |8/6/98 |J | 1,531,685 | A | | 1,531,685 | D |
- -----------------------------------------------------------------------------------------------------------------------------------
Common Stock | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
___________________________________________________________________________________________________________________________________
1.Title of Derivative|2.Conversion|3. |4. |5.Number of |6.Date Exer- |7.Title and Amount|8.Price|9.Number |10.|11.Nature of
Security |or Exercise |Transaction | Derivative |cisable and | of Underlying |of Deri|of Deriva |Dir|Indirect
|Price of |Date |Code| Securities |Expiration | Securities |vative |tive |ect|Beneficial
|Derivative | | | Acquired(A)|Date(Month/ | |Secu |Securities|(D)|Ownership
|Security | | | or Disposed|Day/Year) | |rity |Benefi |or |
| | | | of (D) |Date |Expir | | |ficially |Ind|
| | | | | A/|Exer- |ation | Title and Number| |Owned at |ire|
| | | | | D |cisa- |Date | of Shares | |End of |ct |
| | | | Amount | |ble | | | |Year |(I)|
___________________________________________________________________________________________________________________________________
Option for Common | | | | | | | | | | | | | |
Stock | | | | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
Option for Common | | | | | | | | | | | | | |
Stock | | | | | | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------
___________________________________________________________________________________________________________________________________
</TABLE>
Explanation of Responses:
Table I: Common stock issued in part payment for issuer's purchase of certain
of the assets of the reporting person.
