Limited-edition Moutai price tumbles

Kweichow Moutai, known as the national liquor of China, has seen its price remaining on a downward trend since the Mid-Autumn Festival.

The price of Kweichow Moutai's Dragon Year limited edition liquor dropped to 2,550 yuan (HK$2,816) per bottle yesterday, compared to 5,999 yuan on several online retail sites in January.

Overall weak demand for spirits during the festival resulted in the most difficult year in the past decade.

Analyst Xiao Zhuqing said the downturn in the catering and gift market - as well as adjustments among real estate, infrastructure and financial industry professionals who were originally the main consumers of Moutai - affected the demand for the high-end liquor maker and impacted dealer expectations for prices.

Last week, Kweichow Moutai announced a share buyback scheme of up to 6 billion yuan and will cancel repurchased shares.

It is the first time it planned to implement share repurchase and cancellation since going public 23 years ago.