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Wine Industry In China Essay

781 Words4 Pages

In this section, we are mainly focuses on the Chinese people's consumption patterns, the factors achieving China to become a large wine market and the future trends of Chinese wine market.

In recent years, China's economy is gradually slowing from double-digit growth, but the spending power has sharply increased. The proportion of households with an average annual disposable income of urban Chinese, which can afford private cars and small luxury items, increase nearly six-fold. Thus, the living standard of the Chinese people is increasing. At the same time, people will pursuit luxury. In 2013, "China Wine Report" shows that China's wine consumption market has more than 100 billion RMB of annual consumption scale. Wine consumption annual market capacity of about 1.8 billion liters, of which about 25 percent is imported red wine. Chinese wine market attract more and more popular internationally renowned wine makers to enter China. Customs data show that China imports about 60% of …show more content…

Hong Kong is near the China. It is more convenient for foreign wine and other major powerful wine distributor enter to the Chinese market. Hong Kong has become an important role. Since 2008, Hong Kong canceled the wine duty to attract other wine merchants from other countries to invest the wine industry. Hong Kong is a storage area, wine auction and distribution center. Hong Kong replace New York become the world's largest wine auction center. Those create the way for foreign brands to enter the Mainland wine market.

In the long term, Chinese wine market will still be faced with the rapid development of a longer period of time which the potential market is very large and promising. The market size will still continue to expand. Many famous foreign brand have set up the wineries in China such as "Domaines Barons de Rothschild" which is a famous France Lafite Chateau

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