date:Sep 13, 2013
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Industry insiders noted China's high-end liquor producers were faced with tough domestic market conditions as the central leadership has maintained a hard line against extravagance. High-end liquors are among the luxuries cracked down on in official spending.
In addition to Moutai, other liquor brands such as Wuliangye have been troubled by piled-up inventories, shrinking sales volume, and falling sales prices.
Although Chinese liquor brands have big potential overseas, they need to borr