Chinese liquor producers feel hangover
By Xie Yu in Shanghai | 皇冠体育app Daily | Updated: 2013-07-18 05:44
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A customer shops for Chinese liquor at a supermarket in Yichang, Hubei province. Sales have plunged since last year, after the central government vowed to crack down on lavish liquor-fueled banquets. Provided to 皇冠体育app Daily |
Chill winds are sweeping the Chinese liquor (baijiu) industry, and competition in the low and middle ranks of the market will persist as the government continues a crackdown on luxury official banquets, analysts said.
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