China's Moutai becomes world's most valuable liquor producer

Chinese Baijiu maker Kweichow Moutai has overtaken Johnnie Walker-brand owner Diageo Plc. to become the world's most valuable liquor company, Bloomberg reported.

A bottle of Chinese Kweichow Moutai Baijiu. [Photo: sohu.com]

Moutai's market value reached $71.5 billion on the Shanghai exchange last Friday, while Diageo's London capitalization was $71.1 billion.

The Chinese group's share price has soared 55% over the past year.

Dubbed the "drink of diplomacy", Moutai remains the most popular brand of Baijiu among Chinese political and business leaders for official receptions or other events.

Then U.S. President Richard Nixon and then Chinese Premier Zhou Enlai toast the opening of China to the U.S., with the Moutai's Baijiu in their glasses during their historic 1972 banquet in Beijing, capital of China. [Photo: northnews.cn]

The Moutai Group is now working on global expansion plans.