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Provided by Dow Jones By Chong Koh Ping A dizzying rally this year has put China s top distillers firmly in the ranks of the world s most valuable consumer-goods companies. Shares in Kweichow Moutai Co., which at the start of 2020 was already the world s biggest alcoholic-drinks company by market capitalization, have gained 56%, valuing it at about $354 billion as of Monday. That means not only does the state-owned enterprise tower over Western rivals like Diageo PLC, and brewing giant Anheuser-Busch InBev SA, but it is also bigger than Coca-Cola Co., LVMH Moët Hennessy Louis Vuitton SE or Toyota Motor Corp. Rival Wuliangye Yibin Co. s share price has more than doubled, for a market cap of $167 billion. An index of 36 drinks companies whose shares trade in Shanghai or Shenzhen rallied 86.7% this year, compared with a 23% increase in China s CSI 300 benchmark, according to Wind.

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