By Yao Lu
Jul. 9 – With the continuing improvements in living standards, increasing consumption of luxury goods, and changing drinking habits of the Chinese people, the country’s wine industry has experienced tremendous growth and development over the past five years. Therefore, in order to support and regulate the healthy development of the wine industry, China’s Ministry of Industry and Information Technology (MIIT) and Ministry of Agriculture (MOA) jointly issued the “12th Five-Year Development Plan for the Wine Industry (hereinafter referred to as the ‘Plan’)” on July 6.
The Plan illustrates the main achievements of the industry during the 11th Five-Year Plan period, as well as sets up the development objectives for the 12th Five-Year Plan period. In addition, it lays out the main tasks for the industry and comes up with safeguarding measures to facilitate the implementation of the Plan. Continue reading…
U.S., Chile, Australia as well as old world wines all generating increasing market shares as China develops new tastes
Op-Ed Commentary: Chris Devonshire-Ellis
May 21 – China is a country that continues to surprise, even 20 years after I first established my business there. Back in 1992, drinking coffee was limited to the few hotels that even had such a thing as a Nescafe sachet. Last October, Starbucks opened its 500th store, not bad going for a nation once considered purely tea drinkers. The same story, that of changing consumer tastes, has filtered across many F&B markets, not least with wine. In 1992, red wine would be drunk as a highball with coke, and white wine with 7Up. While that may be understandable given the general quality of wine in China at the time, that is not the case today, and rather like the coffee phenomena, wine consumption has sky rocketed and continues to do so. Continue reading…
By Vivian Ni
Nov. 21 – The surging demand for wine in China has made the country one of the most important target markets for global wine producers, as regular Chinese consumers are now becoming more receptive to Western wine, and wealthy Chinese buyers are considering red wine as a new type of speculative investment to counter inflation.
Promising wine consumption market
While traditional wine consumption markets in the West are all declining amid the recent global economic woes, wine sales in China have been experiencing an impressive 15 percent annual increase over the past several years, according to estimates made by U.S.-based consulting firm A.T. Kearney (ATK). Furthermore, a report issued in September by U.K.-based International Wine and Spirit Research (IWSR) says that wine consumption reached 125 million 12-bottle cases in 2010 and is forecast to double to 250 million cases by 2016. Continue reading…