Kweichow Moutai to raise prices by 18% from next year

Kweichow Moutai Co Ltd, China's signature high-end spirit maker, announced on Thursday that it would raise the prices of its products by an average of 18 percent next year.

A 500ml bottle of Moutai's classic Feitian 53 percent liquor currently retails for 1,299 yuan ($199) on JD, one of China's leading online shopping platforms, and consumers need to make an appointment online to reserve the product first.

Li Baofang, general manager of Moutai Group, said this would be the first price change since 2012, and Moutai has been making efforts to control the price and avoid speculation.