According to the official website of Tsingtao Brewery Company Limited, the predecessor of Tsingtao Brewery Company Limited is the state-run Tsingtao Brewery, which was opened in 1903 as a joint venture between British and German businessmen, and is the earliest beer producer in China, and was ranked 402nd by Qingdao Market Supervision and Administration Bureau in July, 2023, and was included in the Fortune China Top 500 list in 2023, so Tsingtao Beer is not a Sino-Japanese joint venture.