The company that makes China's eye-wateringly strong Moutai drink is edging out Diageo (DEO), the owner of Johnnie Walker, as the world's most valuable liquor firm. Based in the southwestern province of Guizhou, Moutai makes a high-end type of baijiu, a popular Chinese liquor distilled from sorghum and rice. Related: How to drink baijiu: Beijing's pros share their tipsMoutai has a storied place in Chinese culture and is considered the "drink of diplomacy." "They got smart," said Shaun Rein, the founder of China Market Research in Shanghai. But Moutai has a huge dependency on the Chinese market, which accounts for 95% of its sales.

Source: CNN April 10, 2017 09:11 UTC