As a huge TV audience tuned in to China’s lunar new year gala last month — equivalent to the US Super Bowl for its peak advertising rates — a record eight domestic liquor makers grabbed almost half of the highly coveted commercial slots at the top of the show.

Led by premium brands such as Kweichow Moutai and Wuliangye, drink makers appeared dozens of times, as presenters and actors filled the four-hour event with promotions for baijiu, the strong grain-based liquor that is as popular in China as vodka is in Russia.

The domination of spirit brands on the nation’s most-viewed television show comes as liquor makers look to sustain a post-Covid sales boom that has also boosted their stock prices. The CSI Liquor index, which tracks Chinese alcohol stocks, rose 9 per cent in January, outperforming a 7 per cent rise for the broader CSI 300 index. Kweichow Moutai is China’s most valuable non-tech stock, with a market capitalisation only exceeded by Tencent.