Hong Kong and mainland China, paradise for the wine drinker

by Eve Resnick on February 18, 2009

in General

Are you located in a country where wine is considered a danger to your health, banned from everyday life and highly taxed? Consider moving to Hong Kong where wine is promoted as being good for your well-being and heart!

Imported wines are a huge success in Hong Kong, especially since the removal of the duty band. because of it, Hong Kong is becoming the getaway to the other Asian markets (mainland China, South Korea and Taiwan) and the fine wine trading hub of this part of the world. Wine imports rose 88% in 2008 while wine consumption is on the rise. According to Wendy Cheung, Assistant Secretary for Commerce and Economic Development, wine sales should double in Asia by 2012 due to the economic growth of mainland China.

Who is buying wine in China? Ten years ago, consumers were mostly expatriates. Now they are Chinese buying for pleasure but also for investment. Wine is also status related: it is chic and fashionable. Wine clubs and tastings are on the rise.

Convinced? Ready to move?

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