Chinese baijiu liquor stocks tumble amid regulatory concerns

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Signage for China Kweichow Moutai Distillery Co. baijiu liquor lines a road at the company's facility in the Maotai section of the Renhuai District in Zunyi, Guizhou Province, China, on Thursday, April 7, 2011.Nelson Ching | Bloomberg | Getty ImagesBEIJING — Kweichow Moutai and other Chinese liquor stocks fell Thursday, on track for five-day losses in the wake of reported new regulation on the industry.The reports come as the central Chinese government has issued a raft of new announcements in recent months, some catching investors by surprise. For example, authorities ordered app stores to remove Chinese ride-hailing app Didi, just days after its massive IPO in the U.S. Shares have fallen 41% since.Underlying Beijing's rush of actions — to tackle monopolistic practices among tech companies, increase data security and prevent "disorderly expansion of capital," among others — is a theme of "common prosperity." The vague term has emerged in political speeches as a slogan f
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