On November 13, the 2025 China Beer T5 Summit, hosted by the China Wine Industry Association and organized by China Resources Beer (Holdings) Co., Ltd., was held in Xiamen, where Song Shuyu, President of the China Wine Industry Association, delivered a summary speech. Addressing the current development situation of the entire brewing industry, President Song Shuyu stated that due to the macroeconomic performance not meeting expectations, coupled with declining consumption and policy adjustments, the impact on the wine industry has been significant, especially for baijiu, which this year faces the largest adjustment amplitude in history. Objectively speaking, the industry should have adjusted in 2022, but the three years of the pandemic delayed the adjustment, amplifying the market's false demand and the industry's accumulated contradictions, such as the contradiction between rising production capacity and declining demand, and the contradiction between channel expansion and ...