Core Insights - Guizhou Province plans to shift the focus of the liquor industry from "selling liquor" to "selling lifestyle," implementing actions for the integration of the "liquor+" industry and cultural-sports sectors, along with a three-year action plan for liquor exports [1] Industry Overview - The liquor industry is currently in a destocking phase, with a slowdown in performance expected in 2025, which companies must confront. In Q3 2025, companies increased their destocking efforts while also exploring product innovation, channel refinement, and digital transformation to prepare for a new development phase post-destocking [1] - The low-alcohol liquor market in China is projected to grow significantly, from approximately 20 billion RMB (3.6 billion SGD) in 2020 to around 57 billion RMB by 2024. The China Alcoholic Drinks Association's Executive Director Wang Qi predicts that the market size for low-alcohol beverages will exceed 74 billion RMB by 2025 [3]