By Alan Murray and Geoffrey Smith
December 7, 2017

Good morning.

Anyone who thinks you can’t make money in China needs to talk with AB InBev CEO Carlos Brito, as I did earlier today at the Fortune Global Forum in Guangzhou. Brito’s company has grabbed 20% of the beer market here, and says it has become one of his fastest-growing and most profitable markets. Moreover, it’s now teaching best practices to the rest of the company.

“When I started ten years ago in China, China was always absorbing best practices from elsewhere, and they had no problem learning from others,” he said. “But now China is exporting best practices. So it’s a big shift.”

The key to winning in China, Brito says, has been pairing beer with entertainment. “People look for more than products, they look for experiences. So it’s very important to provide consumers with entertainment where beer, beverages and food is at the center of it.”

You can read more about the day’s conversations at the Forum here. And if you are interested in investing in China yourself, here are five recommendations from Fortune’s annual investor guide, out today. (Warning: The Alibaba pick may be controversial with some CEO Daily readers, who question how the company measures sales.)

Also this morning, we are publishing Jen Wieczner’s excellent piece on activist investor Elliott Management. Take the time to read it.

And some news: We announced in Guangzhou this morning, along with Prime Minister Justin Trudeau, that Canada will host the 2018 Fortune Global Forum next fall – date and city to be announced soon.

Other news below.

Alan Murray


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