2013-10-29

Chinese Doctors Protest, Liquor Profits Cut in Half

China doctors protest after murder by patient
Chinese hospital staff protested on Monday after a patient killed one doctor and wounded two more, local media said, in the latest violence to hit the country's overburdened medical sector.

Dozens of doctors and nurses wearing white coats and blue surgical masks crowded outside their workplace in Wenling, in the eastern province of Zhejiang, photos posted on the major web portal Tencent showed.

Chinese Austerity Measures Hit Wine and Spirits Sales
Recently, baijiu sales have plummeted. In 2011, the average bottle of Moutai cost more than $323, and aged Moutais from the 1980s sold for $5,000 per bottle. In early 2012, the prices began dropping and now hover at around $164. Admittedly, it's been boom and bust. Just seven years ago, the same average bottle of Moutai was sold for $33 before prices shot skyward.

I haven't seen any English news with details, but Wuliangye, a competitor with Moutai, saw it's profits plunge in the third quarter. Profit was basically cut in half from a year ago. 五粮液三季报净利润大降 白酒板块难言拐点到来

I covered the liquor bubble previously, including: Chinese Maotai bubble bursts! and Maotai bubble continues to burst, but Maotai stock hits a new high. Maotai and Wuliangye are now well off their highs. That second post was written as Maotai was making its all-time high. Since then these stocks are down more than 40 and 50%, respectively.

No comments:

Post a Comment