Chinese Love of Wine

As we have been hearing and reading pretty much everywhere of late, the Chinese are now demonstrating a heightened love of fine wine, more than ever before.  As more and more Chinese choose to purchase fine wines, the hub of Hong Kong is now recognized as a dominant market within the industry.  Indeed until very recently, traditional centres have not been oblivious to this rise and the subsequent effect it has had on global wine prices.  Indeed, as Chinese collectors continue to pick up top vintages, supply of the very best wines, the first growths in particular, had been subjected to increased pressure from this nascent market.

At a recent wine auction that was held in China, some of the country’s elitists came to learn from and experience the wine industry greats.  Many in attendance did not fully understand the rules of wine bidding, and had to be taught prior to commencing the auction.  Prices for bottles of fine wine were very high, and those with deep pockets were taking home some of the best vintages in the world for huge profits.  After such successful auctions, it is now clear that China has developed a taste for the grape.  Wine collectors and wineries are sprouting up all across the country, and ultimately (due to its size), China is expected to have the largest wine trade in the world.

For Western wine collectors such a rapid emergence has created quite a stir.  While there is the worry for some spectators that China’s continuing ascent into such a position of dominance within the industry will curtail the availability of top vintages to other parts of the world, others view the increased Chinese involvement more favourably.  For those collectors seeking to have a few cases taken off their hands, or for those who would like to make a little extra, they see this transition as an opportunity.  For example, selling a rare or very old bottle of wine to someone in China might perhaps see more return than it would garner if selling the same bottle in America, or even Europe.  Whatever the situation – and no-one can be sure what will happen… one thing is clear: China has developed a newfound love for wine.



Leave a Reply