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Buying credited to hoarders sent the price of baijiu, or Chinese liquor, in the Guangzhou market to a new high, the Guangzhou Daily reported. The average price of a 500ml bottle of the "Feitian" series of Moutai liquor, with a standard alcohol content of 53%, soared in August to cross the RMB1,000 mark to up to RMB1,198. Some upstream suppliers are storing goods to corner the market, and the alcohol they bought last year has gained 80% in market value, a dealer told the newspaper. |
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