Liquor lacks luster as crackdown hits high-end labels

In the first half of this year the profit growth of Chinese liquor companies plummeted to almost zero from the same period last year and this downward trend is likely to continue for the rest of the year, a leading official at the Ministry of Commerce said on Wednesday.

"Although the whole industry is still increasing in terms of production volume and profit, the downward trend of the growth rate is clear," said Lu Zhengmin, deputy director of the department of market operations and consumption promotion for the ministry.

China's profits of white spirit industry hit a total 39.9 billion yuan ($6.5 billion) in the first six months, an increase of 0.57 percent year-on-year, but much lower than a 55.1-percent increase during the same period of the previous year, according to a report from a national body of alcohol distribution.