China’s second largest beer maker and the sixth largest in the world, Tsingtao Brewery was founded in 1903. Currently headquartered in Qingdao, Shandong, the company was formed by German settlers in Hong Kong. It was taken over by a Japanese brewery in 1916. After the Japanese surrender in 1945, the company changed hands to a Chinese family. It was taken over by the communist government in 1949. The company was privatized in 1993 and renamed Tsingtao Brewery Company. At one point, 27% of the company was owned by AB InBev. In January 2009, AB InBev sold its stake to Asahi Breweries. In January 2017, Asahi Breweries announced that it would sell its 20% shareholding. Tsingtao Beer was introduced into the U.S. in 1972, and has now become the highest selling Chinese beer in the country. Worldwide, it is the second largest selling brand, with a global beer volume market share of 2.8%.