China’s Leading Argentine Wine Importer Closes Operation

One of China’s foremost importers of Argentine wine, Uniwines International Co. Ltd., has quietly shuddered its operation last year, marking the latest casualty in a tough economic climate that’s forcing industry outsiders to retreat.

Founded in 2008 by Chen Jianchong in Fuzhou, it was also registered in tax-free Hong Kong in 2011. The company was officially dissolved on June 28, 2024 according to corporate records filed on Qichacha and reviewed by us. Its operational status was changed to “inactive” as of Sept. 5 last year. 

The company’s official website has been repurposed as a live-streaming platform for sports events, signaling a complete shutdown of its wine business. Attempts to reach Chen for comment were unsuccessful and by the time of publishing Chen still remains unresponsive. 

Headquartered in Fuzhou, China’s affluent Fujian province, Uniwines built its name as a specialist in Argentine wines. The company has secured exclusive distribution agreements in China with ten renowned brands, including Bodega Santa Julia, Luca, Bodega Luigi Bosca, and Zuccardi, Cabalero Victoria and Valle de la Luna from Argentina; Npoleon Abejas from Chile; and Vanessa from Australia.

At its peak, the company earned accolades as one of “Fujian’s Top 10 High-End Wine and Spirits Distributors” and among the “Top 50 High-End Wine Distributors in China.” It was also listed as a designated wine supplier for the Argentine Consulate General in Guangzhou.

In 2020, Uniwines was recognized by China’s official drinsk trade organization, China Alcoholic Drinks Association, as a “National Trusted Wine Enterprise.”

But despite its strong positioning in a niche category, the company struggled to weather the downturn in China’s imported wine market. Argentina remains a minor player in China, ranking only 10th among bottled wine exporters to the country. From January to June 2024, China’s imports of Argentine bottled wine totaled just US$12.17 million, down 28.4% year-on-year, customs data shows.

From Supermarkets to Wine, Then On to Uzbekistan

The company was founded by Chen Jianchong, a Chinese Argentine who previously ran supermarkets in Argentina. Seeing an opportunity during the country’s post-2010 wine boom, Chen leveraged his overseas connections to bring Argentine wines into China at a time when demand was surging.

Attempts to reach Chen for comment were unsuccessful. However, public posts on his personal video account suggest that in recent years he has pivoted away from the wine trade. Instead, he appears to have resettled in Uzbekistan, where he founded the Uzbekistan Fujian Chamber of Commerce and now focuses on chamber-related events and business networking.

Previously, Chen served as vice president of the Argentina Fujian Association and in 2020 launched the retail wine brand Shounianghui.

Broader Pattern: Capital Retreat from Wine Sector

Chen’s departure is not an isolated case — it underscores a broader trend of wine outsiders, many of whom entered the industry during its boom years, now pulling back as the market contracts and competition intensifies.

“A lot of outside capital came into the wine sector when the market was booming, expecting quick profits,” said one importer familiar with the situation who declined to be named. “Now that the market has cooled, margins are tight and competition is brutal. Those without deep industry roots or a long-term vision are pulling out.”

The past few years have seen a wave of similar exits from both wine importing business and winery ownership. Earlier this year, Vino Joy News reported that Château Latour-Laguens—the first Bordeaux estate purchased by mainland Chinese capital—was auctioned off for just €150,000 (about $160,000). It had been acquired for RMB 40 million (roughly $6 million) by Longhai Investment Group in 2010. The company’s core business was real estate and construction.

Meanwhile, Dalian-based Haichang Group lost its portfolio of nine Bordeaux wineries after they were confiscated by French authorities over fraud allegations stemming from poor management. Haichang originally focused on oil trading and tourism real estate.

Even China’s most prominent baijiu brand, Kweichow Moutai, encountered trouble with its French acquisition. The company bought Château Loudenne, a Cru Bourgeois in Bordeaux, only to face operational difficulties, lawsuits, and eventual bankruptcy proceedings. In 2022, the château was sold to French entrepreneur Christophe Gouache.

Compared to vineyard ownership, Uniwine’s role as an importer gave it a lighter operational footprint and more flexibility. Without long-term asset liabilities like vineyards or châteaux, it could shut down operations more easily than capital-heavy ventures.

For many entrepreneurs, the calculus is simple: if better business opportunities emerge elsewhere, it may be wiser to cut losses and redirect resources. As the Chinese saying goes, “A small boat turns quickly.”