From the OneWorld website:
oneworld Airline Affiliates
In late 2006, Cathay Pacific acquired a 100 per cent holding in Dragonair, the Hong Kong-based carrier which is the biggest airline serving mainland China based outside the mainland and a regular winner of awards as the best airline serving the mainland. Now it is wholly owned, Cathay Pacific can choose to bring Dragonair into oneworld as an affiliate if it wants, provided the airline meets the alliance's delivery requirements and its addition is supported by the grouping's other members.