Château Lafite Rothschild

Expensive wines and spirits such as mao-tai, as made by China Kweichow Moutai Distillery, among others, are out of favour. Photo: Bloomberg

Curbs leave alcohol firms in low spirits

Spirits, and prices of spirits, are low for many local and foreign alcoholic beverage companies with operations on the mainland after a challenging year marked by depressed demand as a result of restrictions on lavish spending at official banquets.