Moutai, China’s signature high-end spirit maker owned by the state, announced that it would raise the prices of its products by an average of 18 percent in 2018.

A 500 milliliter bottle of Feitian 53, a flagship product of the company Kweichow Moutai Co Ltd, was sold below 1199 yuan (184 US dollars) to wholesalers and 1,299 yuan (about 200 US dollars) to customers in 2016, the cost of which is only 49 yuan (8 US dollars) per bottle.