(Yicai) Jan. 9 -- The limited edition baijiu produced by China’s Kweichow Moutai for the forthcoming Year of the Dragon commands a premium of up to 140 percent on some e-commerce platforms despite the country’s sluggish liquor market.

Kweichow Moutai set a guide price of CNY2,499 (USD355) per bottle for the annual Chinese zodiac-themed baijiu, but they are going for as much as CNY5,999 (USD840) on a number of online retail sites, Yicai found.

More than 8.5 million people have signed up to buy the product since the world's most valuable distiller opened subscriptions on its iMoutai app on Jan. 6, according to the Guizhou-based firm. That figure is similar to previous years, it added.

The price will be higher when the product first launches, but will likely drop later, a dealer told Yicai, adding that liquor consumption in China is not as robust as it has been in previous years.

Chinese New Year’s Day falls on Feb. 10 this year and marks the start of the Year of the Dragon. Other large distillers such as Yibin Wuliangye Group and Shede Spirits have also brought out special zodiac-themed baijiu products to celebrate the new year.

Baijiu is made from sorghum and grains such as wheat, barley, or rice and is known for its high alcohol content, which can range from 40 percent to 65 percent alcohol by volume or even higher. It is most often consumed at social gatherings, banquets, and celebrations.

Kweichow Moutai produced its first limited edition zodiac baijiu in 2014, and except for higher prices in the first two years, they cost between CNY3,600 and CNY3,900 a bottle. Last year's for the Year of the Rabbit was the cheapest at CNY2,700, close to the price of its standard baijiu products.

Chinese baijiu is a folk culture product, and the zodiac is also part of the country's culture, according to Cai Xuefei, a liquor analyst. Zodiac-themed baijiu can diversify a makers' product mix and broaden its appeal among consumer groups, Cai noted.

Baijiu demand has weakened in recent years as consumers have become more rational, so the prices of zodiac baijiu will certainly fall, Cai said, adding that distillers should be more innovative with these products.

Shares of Kweichow Moutai [SHA: 600519] edged 0.2 percent lower today to close at CNY1,641 (USD230) apiece in Shanghai.

Editors: Shi Yi, Martin Kadiev