Latest News:  

English>>China Society

Web China: Military liquor ban drops shares, cheered by netizens


09:25, December 26, 2012

SHANGHAI, Dec. 25 (Xinhua) -- Liquor shares have plunged since the military authorities issued a ban on receptions featuring liquor and luxury banquets.

The Central Military Commission (CMC) last Friday issued ten regulations that forbid high-ranking military officials from indulging in alcohol, luxury banquets, welcome banners, red carpets, floral arrangements, formations of soldiers, performances and souvenirs when making official visits.

The regulations impacted Kweichow Moutai, a famed Chinese liquor producer, sending shares down 5.5 percent on Monday. The company's market value shrank by 12.5 billion yuan (2 billion U.S dollars) on the same day.

Prices for the company's products have skyrocketed in recent years. Wu Jianhua, secretary of the Shanghai Beverage Association, said the price of the company's Feitian Moutai liquor, which cost just 200 yuan per bottle 10 years ago, hit 1,519 per bottle last year.

【1】 【2】 【3】

We Recommend:

Photos: Most touching loves in 2012

Snow brings joy to severe winter

Make wishes as end of Mayan calendar nears

Nanjing Massacre victims remembered

China's weekly story (2012.12.10-12.15)

Tell the whole world how I love you

Residential building collapses in Ningbo

Day to remember as couples tie the knot

Chinese space probe flies by asteroid


Leave your comment0 comments

  1. Name


Selections for you

  1. Submarines in confrontation drill

  2. China's J-11 fighters fly over Mt. Qomolangma

  3. Splendid moments in 2012

  4. China in winter snow wonderland

  5. With me, you are not alone

  6. Beijing-Guangzhou high-speed railway opens

  7. World's hottest supermodels in 2012

  8. Must-see December 2012

Most Popular


  1. Optimism over China's economy surfaces
  2. Internet gaming: 'A winning gamble'
  3. People have right to know what chickens eat
  4. Catchwords in memory in 2012
  5. Why the young Chinese get physically weaker
  6. Why Discover China is popular in the West
  7. The laughter sounds too harsh
  8. Do not confuse Confucious with Santa Claus

What’s happening in China

11 Chinese children dead after van plunges into pond

  1. Chinese man hits students with car
  2. More details revealed in fatal school van crash
  3. Good Samaritan vote attracts 80 mln netizens
  4. Draft law to protect personal privacy
  5. 89 children rescued in Chinese trafficking ring bust