BUSINESS China's alcohol-making industry reports stable growth in Jan-Oct

BUSINESS

China's alcohol-making industry reports stable growth in Jan-Oct

Xinhua

09:11, December 22, 2019

Bottles of Kweichow Moutai liquor for sale at a supermarket in Shanghai on April 29, 2018. (Photo: IC)

BEIJING - China's alcohol enterprises above designated size saw a total revenue of 681.98 billion yuan ($97.4 billion) in the first 10 months, according to the Ministry of Industry and Information Technology.

The reading was up 8.7 percent compared with the same period last year, the ministry said.

During the period, the profits of 2,126 alcohol makers with an annual revenue of over 20 million yuan grew 17.9 percent year-on-year to reach 130.88 billion yuan, the ministry said.

Chinese liquor-making enterprises above designated size saw their output reach 6.35 million kiloliters in the first 10 months, up 1.4 percent year-on-year.

During the same period, the output of breweries above designated size totaled 33.43 million kiloliters, a 1-percent increase from a year ago.

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