Asian giant holding empty bottle (7)
I believe the answer is:
tibetan
'asian' is the definition.
(Tibet is in Asia)
'giant holding empty bottle' is the wordplay.
'giant' becomes 'titan' (titans are giant mythological creatures).
'holding' means one lot of letters goes inside another.
'empty' says to hollow out the word (remove centre letters).
'bottle' with its centre taken out is 'be'.
'titan' enclosing 'be' is 'TIBETAN'.
(Other definitions for tibetan that I've seen before include "Nationality of citizen of Lhasa, before Chinese invasion" , "Nationality of the Dalai Lama" , "From Lhasa, perhaps" , "Oriental" , "Language giving us yak, sherpa and yeti" .)