This paper explores factors that influence information exchange between companies in a Chinese food chain.Specifically, it invests potential impact of transaction attributes and governance structure on information exchange.The sample of companies was analyzed by partial least square path (PLS) modeling.What found in this study are: (1) A higher level of environmental uncertainty is likely to induce a higher level of transaction specific investments (TSI).Moreover, it is also likely to induce trust and contractual governance.However, market uncertainty does not necessarily induce communication willingness and behaviour.(2) TSI appears to contribute into inducing trust and contractual governance, but does not necessarily help to improve communication willingness and behaviour.(3) Trust appears to be a reliable and positive indicator for contractual governance and communication willingness, but may not for communication behaviour.(4) Contractual governance does not necessarily help to improve a companys communication willingness and behaviour with its main suppliers.Managerial applications are generalized based on these findings.