A bottle of vintage Moutai Liquor with an initial biding price of 2.6 million yuan ($397,730), but sold at a price of 8.9 million yuan, is seen at an auction in Guiyang city, capital of Southwest China's Guizhou province, April 10, 2011. [Photo /Asianewsphoto]
GUIYANG - Kweichou Moutai, the producer of China's official state liquor, is planning to expand by setting up subsidiary offices abroad, the company's chairman said Friday.
Yuan Renguo, chairman of Kweichou Moutai, said that his company will open five overseas offices over the next five years to promote sales and introduce "Moutai culture" to foreign consumers.
The five offices will be located in North America, Australia or New Zealand, Japan or the Republic of Korea, France and Russia, according to Yuan.
Yuan said that demand for Moutai liquor, which is composed of mineral water, sorghum and grain, has increased in recent years both at home and abroad.
"We must have the ambition to make Moutai a world-renowned beverage and an international brand," Yuan said.
Kweichow Moutai aims to generate 40 billion yuan ($6.2 billion) in sales revenue by 2015, according to the company's projected sales figures. This figure is based on the company's goal of producing 40 million liters of Moutai liquor by 2015.
The company's distillery churned out approximately 32.6 million liters of Moutai liquor in 2010, generating net profits of 5 billion yuan.
