Buyers regularly spend about up to 900 yuan (£91, $127) for a bottle of Kweichow Moutai baijiu but the price can rise dramatically for rare and good vintages. Some bottles sell for up to $20,000.

HONG KONG, Jan 2 (Reuters Breakingviews) - Kweichow Moutai–Li Ning, or KMLN, may not have the same ring as Louis Vuitton Moët Hennessy, but it could be China’s next national consumer champion.

Chinese liquor giant Kweichow Moutai has said it would meet its revenue growth target for 2024 despite subdued consumer sentiment and slumping wholesale prices in its home market of China.

A bottle of Moutai currently costs 1,300 yuan ($166; £128), and 95% of its sales are within China. According to South China Morning Post, Moutai University won't be the first in the country to ...