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Food & Beverage

Chinese province gets $14bn holiday gift of Kweichow Moutai shares

Local government to benefit from lucrative cash infusion

The shares donated to the Guizhou provincial government represent 4% of Kweichow Moutai's outstanding stock.   © Reuters

HONG KONG -- Many a Chinese official has, sometimes to their later regret, accepted the gift of pricey bottles of Kweichow Moutai liquor.

This holiday season, the state-owned parent company of Moutai has upped the ante by presenting the government of its home province of Guizhou with 50.24 million shares of China's most valuable domestically listed company -- a gift worth 91.95 billion yuan ($14.08 billion) at Thursday's closing price of 1,830.34 yuan in Shanghai.

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