Apr. 2, 2009 (China Knowledge) - China's Snow Beer, a beer brand owned by a joint venture between China Resource Enterprise Ltd (CR Enterprise)<291> with London-based SABMiller plc, has exceeded Bud Light as the world's largest beer vendor, according to statistics released by the research institution Plato Logic recently.
Last year, the Chinese beer giant, sold about 6.1 billon kilolitres of beer, up 19.1% from a year earlier, far better than other beer brands such as Bud Light and its sister Budweiser.
Some analysts attributed the great success to the rapidly increasing Chinese beer market, which has already become the world's largest instead of the U.S. a few years ago.
Sales revenue from Snow Beer brand series accounted for 84% of the joint venture's total, according to the annual financial report by China Resources (Holdings) Co., Ltd, the parent of China Resource Enterprise, on Tuesday.
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