Moutai Investors Ride Roller Coaster With Baijiu Maker

By Li Yan, Wang Jiaxin and Teng Jing Xuan

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.

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