The popular Chinese beer brand Tsingtao has set up a Bt2-billion joint venture with a group of Thai partners to open a brewery , its first outside China. Tsingtao Beer will retain 40 per cent of Tsingtao Brewery Thailand, with 60 per cent owned by the Thais. Investor Theparak Luengsuwan said Tsingtao planned to make Thailand its export-oriented production hub to penetrate Southeast Asia, Australia and Europe.