The Beijing-based brewer, Yanjing Brewery Co Ltd, the second largest brewer in China by volume, has posted sales for 2002 of CNY4.7 billion (US$566m). Previously reported figures put 2001 sales at CNY2.29 billion, giving the company sales growth in 2002 of 105% year-on-year.

The Beijing brewer also reported that its sales outside its core market in the Beijing area increased by 40% in 2002.

The company has made in excess of 12 acquisitions during the past two to three years, strongly contributing to growth. Yanjing said in December that it was planning to invest more than CNY200m in further acquisitions this year as it strives to reduce its dependence on the Beijing market where it has an 85% market share.