Foreign media: China's "Wine Capital" Maotai Town is facing a cold winter in the industry. The decline in consumption of traditional Chinese liquor, especially high-end soy sauce-flavor liquor, has led to a drop in market prices.
The wholesale price of high-end wines represented by Feitian Maotai fell to a new low in recent years during this year's Double Ninth Festival. Continued sales declines and economic pressures have made it difficult for small and medium-sized wineries in Maotai Town to operate, with hundreds of them closing down from over a thousand, leaving only a few still in operation. Local winemakers said they are unsure whether the future represents a structural shift or a temporary downturn.
To cope with the difficulties, wine companies have begun to diversify their products and try to open up new markets such as Hong Kong and Southeast Asia, but the industry as a whole is still in a period of confusion and adjustment.
Original article: www.toutiao.com/article/1849775782917132/
Statement: This article represents the personal views of the author.