China, Beijing: China Resources Breweries, a subsidiary of China Resources Enterprise, Limited and a joint venture with SABMiller plc., has set up a 220 million yuan brewery together with Xiling Brewery, a regional beer-maker, in the eastern province of Zhejing, according to the Beijing News. The new established plant has a production capacity of 100,000 tonnes per annum. China Resources Breweries and Xiling Brewery hold a 70 % and 30 % stake respectively in the facility.
This is China Resources Breweries' second big move in Zhejing province this year after it acquired regional beer maker, Qiangjiang Breweries in March. Local and foreign brewers, including Tsingtao Brewery, Beijing Yanjing Brewery, InBev, Anheuser-Busch, are all busy expanding operations in China, which is one of the world's fastest growing beer markets.
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