Baijiu: from toasting profit to cutting prices

Dealers in Chinese high-end native alcohol, or baijiu, have been forced to seek new strategies after price drops triggered by the government's recent curbs on lavish spending.

"We are switching from targeting government and military officials to real estate businessmen," said Zhang Zeyu, a 48-year-old sales manager with Kweichou Moutai Group, in southwestern Guizhou province.

Moutai, a staple of elegant Chinese banquets, is the benchmark of high-end baijiu, which was widely consumed by government officials.