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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.
Wine imports in China in the first four months of the year experienced close to 30% drop amid the coronavirus pandemic, as largely expected.
Here are the essential readings on China’s wine industry this week: a Chinese official from the country’s drinks association warned 2020 will the toughest year; April wine imports plummeted; and China’s own wine rating system is starting to take shape.
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.
All gloves are off now. Just two weeks after the Chinese ambassador to Australia threatened boycott of Australian beef andContinue Reading
As Australia joins the US and Germany to call for an independent inquiry into the origin and spread of CoronavirusContinue Reading
One of the key events that defined China’s wine market last year is that Australia surpassed France for the firstContinue Reading
The first set of official figures released by China’s alcoholic drinks trade body confirmed what everyone was fearing that theContinue Reading
After previously adjusting its earning forecast from 10-15% down to 5-10%, the Australian wine giant Treasury Wine Estates has nowContinue Reading
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.