Moutai Investors Ride Roller Coaster With Baijiu Maker
China’s 106-proof baijiu Feitian Moutai was once the toast of the town for ritzy government banquets and diplomatic dinners.
Officialdom’s intimate relationship with Feitian and its distiller Kweichow Moutai Co. Ltd. ended in late 2012 when the Communist Party’s newly appointed General Secretary Xi Jinping launched a sweeping anti-graft campaign.
The campaign, which continues today under now-President Xi, put the brakes on extravagant government functions in which Feitian and other brands of Moutai liquor were frequently served.
- 1Wukong Becomes China’s First Bike-Share Failure
- 2Tencent Unveils Plan to Create Electronic Sports Gaming Empire
- 3Viewers Wince as Beloved Japanese TV Drama Gets Tasteless Remake in China
- 4The Silver Way: How Mexican Silver Coins Paved a 16th-Century Sea Route to China
- 522-Year-Old Man Identified as Suspect in Kindergarten Explosion