Off the wire
• Draft law to strengthen TCM's role in China's medical system  • Committee on Future Economy assembled to review Singapore's economic strategies  • Indonesia warns countries to stay out of Papua issue  • Interview: Australians increasingly falling victim to online hacking scams, says expert  • HK's IPO fundraising reaches world's highest in 2015  • 1st Ld: China mulls law amendment to advocate "one couple, two children"  • Spotlight: China's efforts to enhance interconnectivity inject new dynamism to Asia-Pacific integration  • Raptors' Kyle Lowry ejected in loss to Kings  • English Premier League results  • Brazil taking lessons from Argentine rugby  
You are here: 　 Home

China's national liquor Moutai reports growth in first 11 months

Xinhua, December 21, 2015 Adjust font size:

Moutai, China's national liquor served at official occasions and state banquets, survived the country's frugality campaign and saw its sales revenues rise by 4 percent year on year from January to November, according to the Kweichow Moutai Group on Monday.

Sales revenues reached 35.7 billion yuan (5.5 billion U.S. dollars) in the first 11 months. Its profits during the same period were 19.3 billion yuan, up 1.88 percent year on year, according to the group's 2015 dealers annual gathering.

Leading China's high-end liquor market, Moutai's sales revenues and profits accounted for 27 percent and 45 percent of the country's 18 listed liquor companies respectively, according to the group.

Moutai's timely price reduction helped offset the effect of a national frugality campaign that started in 2013 to curb extravagance.

The liquor industry is still in the period of transformation and is preparing for a recovery, said Yuan Renguo, the group chairman.

The liquor industry had a weak recovery in 2015 after three years of adjustment, he said.

Moutai, distilled in the town of Maotai in Guizhou, has been considered the country's top liquor brand as well as a status symbol for decades. Endi