Anheuser-Busch InBev could be making another play in China.

The brewing giant is a likely bidder for Kingway Brewery Holdings, a large beer-maker in Guandong Province in southern China, Dow Jones reports Friday morning.

The wire service quotes people familiar with the situation saying Kingway, which has market capitalization of about $550 million (US $), is conducting a "strategic review" and may sell itself later this year.

A-B InBev is one of three major breweries to have expressed interest. The other two are China-based Tsingtao Brewery Co., and China Resources Enterprise Limited Co., which makes China's top-selling beer, Snow, in a joint venture with SAB Miller. 

In 2004 A-B beat out SAB Miller to buy a stake in Harbin Brewery Co., a major brewery in northeast China. Since Belgium-based InBev took over A-B in 2008, the merged brewer has focused on the need to grow in emerging markets and sees China as a major opportunity. In 2010, A-B InBev held about 11 percent of the Chinese beer market, the world's largest.

A spokeswoman for A-B InBev declined comment on the report.

Bids for Kingway are due later this month, Dow Jones reported. The company will then take six to eight weeks to decide its course.