Jane Chen / Shanghai Daily news

Top Chinese spirit distiller Wuliangye Group Co Ltd has unveiled a liquor product that sends the spirit prices to the new record high of 88,000 yuan (US$10,864), today's Eastday.com reported.
The product, with a global supply of 100 bottles, is part of Wuliangye's celebration of the 90th anniversary year of its win of gold medal in the 1915 Panama World Fair.
Like the awarded liquor, spirit on this sale is also distilled in the 600-year-old cellar, the same report said.
The sale strengthens Wuliangye's brand image representing the high-end market, according to president Liu Zhongguo.
Retreating from its diversified strategy, the group has trimmed its product lines and focused on its spirit product since last year and will continue the focus in a few years, he said.
A proof of this high-price strategy is that few of Wuliangye's products are priced lower than 500 yuan on the shelves of Shanghai No.1 Food Store.
The group is exerted to upgrade the image of Chinese spirits to enter the competition with overseas luxury wines such as Chivaz whisky.
"Profits are thicker with the high-end products," Wuliangye director Wang Guochun disclosed.
The high-end strategy seems working. Data from the group indicated Wuliangye reported sales of 13.8 billion yuan last year, up 15 percent year-on-year. Its brand value has jumped 3.6 billion yuan to 30.7 billion yuan.