Despite American president’s threat to remove Hong Kong’s special trade privileges, the city’s American wine importers and promoters remain undeterred by the news, counting on the city’s 2008 wine tax policy to insulate itself from the ongoing US-China tensions.
Few had survived China’s fast-changing and precarious wine market. Navigating government regulations and the country’s notorious ‘Ganbei’ or ‘bottoms up’ culture at business dinners is not for the faint of heart or liver. Alberto Fernandez, managing partner of one of China’s biggest wine importers, Torres China, is an exception.
China’s wine market in 2019 suffered a huge blow as latest figures released by the country’s drinks trade body showed that wine imports during the year slipped to the lowest level since 2017, as a result of the country’s slowing economy and US-trade war.