The company’s flagship product, Feitian, with 53 per cent alcohol, is in short supply across the country as retailers, wholesalers and even consumers start to hoard bottled Baijiu as an inflation-proof investment - along with gold bars, property and stocks, according to a few dealers.
“Basically there are only buyers and no sellers [of Feitian],” said one dealer in Guangzhou, who had been trading liquor for a few years. In recent months, people have started hoarding the product with the expectation that demand for Moutai will expand again in coming years - when Xi has consolidated his power and the movement to tame public spending on lavish dinners has eased, said the dealer, who declined to be named.
Aussie mortgage rates continue to climb
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Despite the Reserve Bank of Australia (RBA) hiking official interest rates
by less than most other advanced nations, Australian mortgage rates
continue t...
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