China's alcohol-making industry posts strong profit growth in 2020

2021-02-28 13:00:15 GMT2021-02-28 21:00:15(Beijing Time) Xinhua English

BEIJING, Feb. 28 (Xinhua) -- China's major alcohol companies saw profits rise 11.7 percent year on year to 179.2 billion yuan (about 27.69 billion U.S. dollars) in 2020, according to data by the Ministry of Industry and Information Technology.

During the same period, the major alcohol-makers reported total revenue of 835.33 billion yuan, up 1.4 percent from a year earlier, the ministry said.

Major distilleries saw the output of Chinese Baijiu (distilled spirits) reach 7.41 million kiloliters last year, down 2.5 percent year on year.

The output of breweries fell 7 percent year on year, while that of wine-making companies dropped 6.1 percent year on year in the same period.

Major alcohol companies are those with annual revenues of more than 20 million yuan. Enditem