百威 (Bǎiwēi) is a phonetic-plus-meaning rendering of 'Bud' —
百 'hundred' +
威 'might' gives roughly 'hundredfold mighty,' a flattering brand name that also vaguely echoes 'Budweis' in sound. Budweiser has been one of the top imported beer brands in mainland China since the 1990s and brews locally there too.