China & Taiwan: Taiwan's Kuomingtang Party claims ownership of Tsingtao Brewery

Taiwan's Kuomingtang (KMT) Party is aiming to retake Tsingtao Brewery, one of China's biggest beer makers, from the Chinese mainland with recently presented archival ownership documents to prove its claim, China.org.cn reported on March 1st.

Speaking at a press conference on Feb. 17, Chiu Da-chan, director of KMT's administration and management committee, argued that the KMT was not empty handed when it came to Taiwan after the civil war with the Communist Party of China.

Archival documents discovered in Taiwan last year can purportedly prove that the Chiloo Industries, KMT's earliest property, owns Tsingtao Brewery and used to operate a rubber plant and a flour mill, he explained.

Chiu also called on the "Ill-gotten Party Assets Settlement Committee" to retake the assets from the Chinese mainland.

Taiwan media also cited KMT insiders that the rubber plant, also owned by Chiloo Industries, has been developed into Bridgestone, the world's largest tire and rubber company.

27 February, 2017