Report: Molson Coors plans China exit

Molson Coors Brewing Company, the second-largest beer producer in the United States, is reported to be exiting the Chinese market because of increased competition from smaller beer brands.

The company has been in China since 2001, selling predominantly its Coors Light product.

But, according to a report on Yicai.com, the company has effectively ceased its operations here, terminated the contracts of its staff, and plans a full withdrawal by the end of the year.