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Chinanews, Beijing, Oct 19 – Liquor has always been one of the key products in domestic spirits market. Due to the high profit and the large market share controlled by domestic liquor makers2, foreign liquor makers find it hard to enter this market. Industrial analysts3 say that foreign liquor makers have now shifted their attention to the capital market from producing their own products to compete with domestic liquor makers directly in the market.
In 2006, China had 1,026 middle and large liquor makers, which produced 39,708 kilolitres of liquor in total, or 18% more than the previous year. Liquor industry generated 97.14 billion yuan of sales income, increasing by 31% from the previous year, said Ma Yong, secretary-general of the China Food Industry Association Liquor Section. In fact, foreign liquor makers started to enter into Chinese market over a decade ago. According to industrial information, China's liquor consumption now accounts for 23% of the world’s total. China has become the largest liquor consumption market in the world. Early this year, the world's large liquor maker1 Diageo bought 43% of shares from Sichuan Quanxing Distillery Co., Ltd. Meanwhile, it spent 500 million yuan to own 17% of the shares of Swellfun through indirect means. In May, Hennessy became main shareholder4 of Wenjun Liquor Company, a branch company of the Jiannanchun Group. Recently, Changsha Maogongjiu Liquor Group posted a notice at the Beijing Property Right Transaction Exchange Board intending to transfer all the company's shares, which was worth 428 million yuan, to potential buyers. The company's president Qiao Nu said it welcomed foreign buyers to buy the company's shares. In future, some well-known domestic liquor makers will try to penetrate5 the global market by cooperating with foreign liquor makers, Ma said.
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