Shanghai set to become the most influential wine investment market25th November, 2013 by Livia Xin
Shanghai is to become the next international wine hub and one of the most influential wine investment wine markets in the world, according to experts at last week’s Shanghai Free Trade Zone Wine Investment and Transaction Summit.
“China has become the world’s fifth-largest wine consuming country and is expected to become the number one wine consuming country in 2016. Shanghai is the most important wine import and distribution port in China, which accounts for 45% of the whole imported wine to China”, a spokesperson from Shanghai Wine Monopoly Bureau told the Yangtze Evening Post.
He added that, with the opening of Shanghai free trade zone, Shanghai has the potential to become the next international wine centre in the future.
Shanghai’s new free trade zone, which opened in October, aims to ease restrictions on investment and is expected to serve as an international wine trade market for wine companies.
However, the summit also discussed the existing problems of China’s wine investment market.
“Wine investment has been booming in recent years, but many investors have little idea about the industry. So there are many new players who are unprofessional and only eyeing for short-term profit”, said an expert at the summit.