China’s baijiu sector dipped on Aug 20 as an unverified notice on holding a meeting on supervision of the baijiu market issued by the State Administration for Market Regulation started circulating Friday morning. Big names in baijiu slumped at the news, Kweichow Moutai dropped 4.44 percent, Swellfun tumbled 6.29 percent, and Shede Liquor fell 5.95 percent.
The "Notice" stated that the purpose of the meeting was to "do a good job in supervision of the Baijiu market." Participants in the meeting included representatives of Baijiu companies and Baijiu associations.
Data from sellers show that the current price of Feitian Moutai has reached 3,200 yuan per bottle, which is more than double the official guide price of 1,499 yuan per bottle. According to Baijiu expert Xiao Zhuqing，the relevant state departments convened this meeting as a reminder and a guiding effect rather than a mandatory effect. He believes that the price of Feitian Moutai will continue to run at a high level for at least the next five years.
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