Leading Chinese high-end liquor producer Moutai has established a new agricultural tech company focused on seeds, the firm announced on Monday. Called Hongyingzi, the new company will research technologies related to sorghum, the raw material used to make Moutai’s signature baijiu drink. Based in southwestern Guizhou province, Moutai is one of the world’s biggest beverage companies and expects its revenue in the sector to have increased 11.2% to RMB 105.8 billion ($16.62 billion) in 2021. [Moutai, in Chinese]
