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Food & Beverage

China's breweries thrive despite COVID-19

Profits hit record highs at top beer makers on successful plant reorganizations

China Resources Beer (Holdings) is making the Heineken brand a pillar of its growth strategy. (Photo by Shin Watanabe)

DALIAN, China -- Brewery earnings are in clear recovery mode in China, the world's biggest beer market. The top player, China Resources Beer (Holdings) and second-ranked Tsingtao Brewery both booked record-high net incomes in the period from January to June.

The stellar results were supported by ongoing cost-cutting that involved closure of plants as well as a brisk recovery in the beer market from April, suggesting the negative impact of COVID-19 on consumption has largely run its course. Medium- to high-end products are selling especially well and becoming the focus of competition.

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