China is buying fine wine like never before

Chinese people are starting to develop their taste in fine wines from around the world.

The biggest import sourcing hub for mainland consumers is still Hong Kong – which delivers some of the finest wines that Chinese love.

In a recent interview – in Hong Kong, Mr John Kapon – Acker Merrall’s chairman, has stated “The Chinese buyers are now the most important segment of clients for us”.

In the past few years, Hong Kong has become one of the two most important wine auction markets in the world, along with New York. Acker Merrall has sold almost half a million bottles of fine wine in Hong Kong over the years, of which around 90,000 bottles went to mainland customers.

In terms of proportion, Chinese buyers  have already surpassed those living in the US or EUROPE (see also the article: EUROPE’S WINE CONSUMPTION FALLS WHILE ASIA’S SURGES)

“China is winning the war of wine; buyers from China are collecting and buying the best wines like never before” said Kapon.

John Kapon, CEO of Acker Merrall & Condit – on consumer trends in China’s wine auction industry. Grand Hyatt Hotel, Wan Chai. Photo: SCMP / David Wong

 

 

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