Back in the 1980s and 1990s, Tianfu had a strangle hold of 70 percent of China's soft drink market. The cola was also sold in Russia and America.[Photo/official weibo account of China Tianfu Cola]

Back in the 1980s and 1990s, the Chongqing company had a strangle hold of 70 percent of China's soft drink market. The cola was also sold in Russia and America. In 1994, the company entered a joint venture with Pepsi, which was not successful. By 2005, Tianfu Cola's market share had plummeted to 1 percent.

Many other smaller soft drink brands suffered a similar fate as the country opened up economically in the 1980s and 1990s. Qian attributed the failure to cutting Tianfu production to make way for Pepsi.

In 2006, the company sold its stake in the joint venture to Pepsi, but Pepsi refused to return Tianfu's right of production.

In 2010, Tianfu took Pepsi to court accusing the US firm of stealing the secret recipe for its beverage. The court ordered Pepsi to return the formula and technical secrets, but rejected Tianfu's request for 1 million yuan ($150,000) compensation.

Tianfu regained its trademark in 2013 and started trial production in 2014.

"It is not only a familiar taste, but also a memory of childhood," said Xu Li, a loyal Tianfu Cola fan, present at the ceremony.