Buy Moutai at the price. Does A's behavior constitute fraud?

Buying Moutai at a high price belongs to buying and selling, and generally does not constitute fraud.

According to Article 266 of the Criminal Law of People's Republic of China (PRC), the crime of fraud refers to the act of fabricating facts or concealing the truth for the purpose of illegal possession, and defrauding a large amount of public or private property.

The basic structure of the crime of fraud is: the actor commits fraud for the purpose of illegal possession → the victim has a wrong understanding → the victim disposes of the property based on the wrong understanding → the actor obtains the property → the victim suffers property losses.