Budweiser group's China beer sales plunge by double digits

HONG KONG -- Disappointing performances in China are dragging down the results of top global brewers, another sign of sluggish consumer demand in the world's No. 2 economy.

Budweiser Brewing Co. APAC, the Hong Kong-listed regional arm of Anheuser-Busch InBev, reported on Thursday that its sales volume in China during the April-June quarter dropped 10.3% on the year. Overall revenue in the country dropped a much steeper 18.5% while profit was down 20.5%.