Meanwhile, Tsingtao has also made bold forecasts for its burgeoning business in Taiwan. The company said it expects to sell 20,000 kilolitres of beer in Taiwan this year, having begun nationwide sales in mid-April. The company said it would consider setting up production facilities in Taiwan once annual demand has reached 30,000 to 40,000 kilolitres.
CHINA/TAIWAN: Tsingtao bullish about growth in China and Taiwan
Having posted a 64% rise in its first half earnings, China's leading brewer, Tsingtao Brewery, said it is anticipating net profits to rise by in excess of 50% for the first nine months of the current fiscal year, compared with the comparable period in 2001.