Latest News:  
Beijing   Sunny/Cloudy    2 / -5   City Forecast

People's Daily Online>>China Business

Liquor makers hike prices as demand rises

By Fang Yunyu (Global Times)

15:22, December 26, 2011

Chinese liquor maker Sichuan Langjiu Group Co started to raise the prices of its products by 15 to 20 percent yesterday with another liquor producer following suit as the New Year approaches.

The price of Langjiu's 15-year Safflower Lang Liquor and its 20-year Blue Lang Liquor will be raised to 1,080 yuan ($170) and 1,680 yuan respectively, according to the company's plan.

Hu Jiquan, a PR executive at Langjiu Group, said the short supply during the New Year and Spring Festival holiday season motivated the company to raise the prices.

"Chinese people prefer to exchange liquor as gift to celebrate the New Year holiday, which of course boosts the demand," Wang Xianqing, director of the Institute of Economics at the Guangdong University of Business Studies, told the Global Times yesterday. Since consumers are buying the products, he believes the price increase trend will not be reversed in the near future.

Wang also said that for many Chinese people, prices of gifts represent the value they place on a relationship, and buyers can actually afford higher prices, so the price hike "won't influence the demand".

"Another important reason of the price hike is that some high-end liquor companies, such as Kweichow Moutai Co, have taken the lead in price hikes," said Wang. "Other liquor producers are just following the trend."

【1】 【2】

Email|Print|Comments(Editor:王莉莉)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Antarctic football game crashers

  2. Christmas atmosphere in over the world

  3. Jinan MAC "Queshan Run-off 2011" drill

  4. People attend Christmas Day mass in church

Most Popular

Opinions

  1. Noda's trip enhances China-Japan mutual trust
  2. Economic outlook for next year could be dimmer
  3. Human library promotes understanding
  4. For amiable China-Japan ties
  5. Europe should make greater efforts to save itself
  6. China unlikely to see hard landing in 2012
  7. Euro depreciation affects Asian manufacturing
  8. To whom does Pacific Century belong?
  9. US media hypes 'cyber Cold War'
  10. Farmers find city life unfair: report

What's happening in China

Preparing for Chinese New Year travel rush

  1. 4.8-magnitude quake hits SW China
  2. Car-truck collision kills four in central China
  3. China donates equipment to AMISOM
  4. Blaze races through electronics market
  5. Agriculture-related fiscal spending surges this year

PD Online Data

  1. Traditional Mooncakes
  2. About Mooncakes
  3. History of Mooncakes
  4. Modern Mooncakes
  5. Legends of Mid-Autumn Festival