SHANGHAI — Companies in China’s $165 billion baijiu liquor market are dangling steep discounts and warning of a growth slowdown this year, raising an additional red flag on the state of the world’s second-largest economy.
At an alcohol expo in the western city of Luzhou, known as the “city of liquor,” in late March, visitors flocked to booths offering bargains. In one crowded spot, red bottles of Shunpin Lang, made by Luzhou-based Langjiu Group, were on sale. Customers who bought a set of two bottles for 99 yuan ($13.50) would get a third for free — but that was only part of the sales pitch.
