China is expected to import 50 percent more wine in the next three years. The National Australia Bank said the rise in Chinese demand for wine was due to the country’s increasingly affluent middle class. NAB’s head of industry analysis Dean Person said while the market for premium vintages was in its infancy, it provided an opportunity for substantial growth. ‘As China’s middle class continues to grow, so too should its demand for more premium products, including quality vintages that can’t be produced en masse locally’ Mr Pearson said. Focus on quality rather than quantity alone is welcomed by Chinese buyers. The CWSA Best Value rates wines on price levels making purchasing decisions clear and easy, benefiting both Producers and Professional buyers.
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More China Wine Market News… Reflecting the steady growth in well heeled Chinese customers demanding quality wines, New York-based merchant and auctioneer Zachys has just launched an online retail business in Hong Kong, with a […]