Yanjing Beer Group expects 2007 sales to rise by 13.3 percent to 4 millions tonnes as the company broadens its distribution throughout China, its chairman and general manager said.

Li Fu Cheng, who is also chairman of the group's listed arm, Yanjing Brewery Co. Ltd, said the company plans to spend 400 million to 500 million yuan (about $52 million to $65 million) this year to upgrade its operations.

"Our plan for 2007 is to reach 4 million tonnes in sales," up from 3.53 million tonnes last year, Li told Reuters on the sidelines of China's annual parliamentary meetings.

China's beer makers have attracted sharp interest from foreign firms, but Li said Yanjing was not currently in talks with any potential foreign investors.

Yanjing Brewery is China's third-largest beer maker.

Source:佚名