The “50 Person Forum of China Liquor and Wine Business Leaders” (G50) was held by shore of Yanqi Lake, Beijing on September 27 with the aim to promote the innovation and development of the liquor and wine industry.

Wang Xinguo, executive director of China Liquor Circulation Association made presentation and announced the establishment of the G50 Forum at the meeting. Subsequently, the founding members raised their hands in favor of selecting Wu Xiangdong, Chairman of VATS Group and founder of Jindong Capital, Liu Zhongguo, General Manager of Wuliangye Group and Chairman of Wuliangye Joint-Stock Company, Chang Jianwei, General Manager of Shanxi Xinghuacun Fen Jiu Plant Co., Ltd., and Jia Guangqing, Chairman of Baichuanmingpin Supply Chain Co., Ltd. As co-chairman of the G50. The forum secretariat was also set up at the conference, and the founding members of the forum jointly issued the China Liquor and Wine Business 50 Leaders Manifesto.

G50 is the most high-end business leader organization of the liquor and wine industry and it will serve as an important open platform for the leaders to carry out mutual assistance, cooperation and innovation. Wu Xiangdong called on all employees of the Chinese liquor and wine industry to do only good things and not a bit bad things at the conference. He also said that the integration of liquor circulation sectors depends on the attitude of upstream manufacturers and if the manufacturers haven’t realized the current low-efficient operations of agents and the need to change, it shall be very hard for the agents to carry out merger and acquisition by themselves.