Wuliangtequ toasts fair as the official liquor at banquets

Maker of one of the most famed liquors in China, Wuliangye Group has partnered with the organizing committee of the 17th China International Fair for Investment and Trade to promote its midrange products.

Its latest product Wuliangtequ has been designated as the liquor for banquets at the CIFIT that runs from Sept 8 to 11 in Xiamen, Fujian province.

Peng Zhifu, vice general manager of Wuliangye Yibin Co, said his company sees the partnership as an opportunity for Wuliangtequ to make inroads into the banquet market.

“Our long-term goal is to make it the top choice for business banquets,” said Peng at a press conference at the CIFIT.

Wuliangtequ was launched in late July as part of Wuliangye’s campaign to enrich the mid-range of its product portfolio. The campaign was unveiled after the “golden decade” of the Chinese liquor industry came to an end in 2013.

“In the past, the more expensive a liquor was, the better it sold. But markets have changed,” Peng said.

In response, Wuliangye vowed to enrich the number of its mid-range liquors while making its high-end products finer and further consolidating the position of its inexpensive products, he said.

With those were born in the 1980s now a major consumer force, the company has also introduced liquors with lower alcohol content, he added.

In addition to a fuller range of products, Peng said the company has also streamlined itself and established seven sales centers nationwide to respond faster to the market.

Meanwhile, as China no longer the rosy picture for liquor makers as it was before, Wuliangye ramping up its efforts in the international market.

Peng said the partnership with the CIFIT will help the liquor gain international fame as the annual event attracts representatives from around the world.

He said Wuliangye has been one of the best liquor makers in going global, noting it is already China’s largest liquor exporter.

“Wuliangye belongs not only to China but the world as a whole,” Peng said.

Established by several breweries in the early 1950s in Yinbin, Sichuan province, the liquor maker was renamed Yibin Wuliangye Distillery in 1959 and has adopted its current name in 1998, according to its official website.

In addition to its top product Wuliangye and the newly launched Wuliangtequ, it also produces a large number of spirits including Liuyanghe and Jinliufu.