(Ecns.cn)--After Moutai, a top-grade spirit in China, was ranked fourth on the list of the world's most valuable labels early this year, more Chinese liquor companies announced plans to speed up their bids to occupy places in the high-end market, according to the Yangcheng Evening News, Tuesday.
On March 15th, Luzhou Laojiao Co, a spirit producer in the southwest province of Sichuan, launched a new product which is being sold for over 330,000 yuan (US$52,215), higher than the quality wines made by the famous Chateau Lafite Rothschild.
It's the strict manufacturing process and excellent packaging that have earned this product its place among high-end liquors, claimed company chairman Zhang Liang.
Some industrial experts say that gross sales of Chinese liquor products may earn the industry over 500 billion yuan (US$79 billion) by the end of 2015. But the high prices of the liquor products have also been criticized for twisting market forces that normally put the best products at the top.
"Compared to red wines, liquor products may sell well in the Chinese market, but it is hard for the International market to completely accept traditional Chinese spirits, as the preference for alcoholic strength and flavor vary across cultures," said an industrial insider.
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