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Fuzhou (CNS) ?C China's liquor industry saw a turning point in 2012, but it will not step backward despite slow-paced growth, experts said at a marketing forum in the capital of Fujian Province on Wednesday.
The liquor industry achieved an increase of 19.6 percent in production during the last seven months of this year, a drop of 9.1 percent compared to last year. The increase of 29 percent in total revenue was also lower than last year's 38 percent for the same period.
The industry will not grow as fast as it did in the last ten years, said Wang Chaocheng, general manager of Shengchu International Marketing &opulent females. Communication. Wang attributed the slower growth to a downtrending macro-economy and a crackdown on the use of public funds for official banquets.
Li Tong, another expert, said more consumers have become rational about liquor consumption.
In the future, high-end brands of Chinese liquor may grow slowly, while the middle part may embrace rapid development, Wang said.
The industry is integrating with the world and its development is becoming sustainable, Wang added.
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