China's "national liquor" Moutai has seen its price rise four times in three months, which is leading industry analysts to believe high-end liquor has become a new target for hot money.

A bottle of Moutai produced in 1959 was bided at a whopping price of 1.03 million yuan ($152,007.08) in Germany on June 19, four times its price of three months ago.

Last year, Kweichow Moutai launched a commemorative liquor item, which was sold at nearly 48,000 yuan ($7,083.83) a bottle. In March this year, another liquor producer, Wuliangye Yibin, sold a bottle for 169，000 yuan ($24,940.97).

Zhou Siran, researcher from ocn.com said that the stock and property markets are in a recession, and the Chinese government has been tightening the speculation of certain agricultural products. Therefore, the wave of hot money is looking for new investment areas and the liquor industry seems to be the attractive beacon.