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China’s booze business looks smashed
First terrified officials went off the lash; now young people are going dry.
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A Luckin Coffee worker packing baijiu-flavoured latte, a drink in collaboration with Chinese liquor brand Kweichow Moutai, at a Beijing outlet.
PHOTO: AFP
The Economist
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Something was missing when Kweichow Moutai, the world’s most valuable spirits company, held its annual shareholder meeting in May. Participants were not served its famous baijiu, a fiery sorghum-based liquor. They supped on blueberry juice, instead.
This was probably wise: China’s Communist Party is in the midst of yet another campaign to stamp out excessive drinking (and other sorts of extravagant behaviour) among Chinese officials. Last month the party banned alcohol entirely at official events; inspectors vowed zero tolerance. “One drink can make you lose your position,” an article in state media thundered.
