GUIYANG -- China's leading liquor maker Kweichow Moutai has set its revenue growth target for 2021 at around 10.5 percent compared with last year, the company said on Wednesday.

The liquor brand saw its revenue rise by 11.1 percent year-on-year to over 94.9 billion yuan (around $14.45 billion) in 2020 with its net profit increasing by 13.33 percent year-on-year to nearly 46.7 billion yuan, the company said in its annual report filed to the Shanghai Stock Exchange.

Distilled in the town of Maotai in Southwest China's Guizhou province, this famed liquor is often served at state banquets.