Moutai showing the right spirit in tough environment

The company that makes Moutai, a staple of lavish Chinese banquets which dates back to the Song Dynasty (960-1279), plans to fight back against the hard times it has endured since the central government's anti-corruption agenda put the nation's favorite liquor in a tough spot.

Kweichow Moutai Co Ltd, a Guizhou province-based distiller, plans to launch a customization marketing company, in which Du Guangyi, deputy general manager of Kweichow Moutai, will hold a stake of 70 percent and an investment company in Beijing will take the rest.

"Our target is to reach 1 billion yuan ($165 million) this year for our customization business," said Moutai's Chairman Yuan Renguo on the sidelines of a provincial government meeting in January. "The reason we are doing this is that we feel the need to give more options to individual consumers rather than simply relying on sales to government departments."