Mr. Shangkong | Will baijiu and casinos fall out of national favour in Xi era?

China's stock market is often described by Chinese media as a playground for gamblers. It is rife with gossip and speculation, and subject to the vagaries of Chinese politics.

With the emergence of Xi Jinping as China's new boss, some wealthy people have been pulling money out of the stock markets in Shanghai, Shenzhen and Hong Kong in recent weeks. They have been particularly anxious to exit two sectors - liquor and gaming, both of which are linked to the nation's longtime problem of corruption, which Xi has vowed to fight.

Chinese liquor, also known as baijiu, is no stranger to foreigners who travel to the mainland for business.

The fiery white tipple is often used to lubricate dealmaking with local partners and government officials, occasions marked by multiple rounds of "gan bei", which literally means "empty the glass".

One of the best-known baijiu brands in China is Kweichow Moutai, whose foreign fans once included the late former US president Richard Nixon.

A bottle now retails for more than 5,000 yuan (HK$6,220) at most five-star hotels on the mainland.

Moutai has long been referred to as "the spirit of China" in the Chinese media. That is until recently, when businessmen and officials began to detect a new political sentiment brewing in the world's No2 economy.