Tsingtao makes sales goal

Tsingtao Brewery Co, China's largest beer producer, said it expects to sell 20,000 tonnes of beer in Taiwan this year, after starting nationwide sales in mid-April. The company had sold almost 10,000 tonnes of beer as of June 30. Tsingtao's profit margin on exported beer is 45 percent, compared with 34.5 percent on brew sold locally, company chairman Li Guirong said. The Taiwan Tobacco and Wine Monopoly Bureau lost its alcohol-production monopoly in January after the nation joined the WTO, forcing an end to subsidies on locally made alcohol and tobacco. "Our beer was well received by Taiwan consumers," Li said. "We may build a brewery there when demand reaches 30,000 tonnes to 40,000 tonnes a year."