Chinese now own 100 Bordeaux estates

One hundred Bordeaux châteaux are now owned by Chinese investors as interest in the French winemaking region from China shows no sign of abating.

Château Renon

As reported by The Telegraph, the 100^th château, Renon in the Cadillac Côtes de Bordeaux appellation, was snapped up by Chinese packaging millionaire James Zhou or an undisclosed sum.

The deal included eight hectares of vineyards and five hectares of parkland and gardens surrounding the estate, which dates back to 1802.

China, remains Bordeaux’s key export market ahead of the UK and entrepreneurs in the country have been buying up châteaux in the region since 2010 both as status symbols and to quench a domestic thirst for the wines.

Just a few weeks before the Renon sale, Chinese property tycoon Chen Miaolin acquired the 24-hectare 18^th century Château de Birot in Cadillac Côtes de Bordeaux.

Targeting the middle of the market, according to The Telegraph, the Chinese invest on average €10m in buying Bordeaux estates exporting over 80% of the wine produced to China.

Outside of French ownership, Belgians lead the charge in terms of their ownership of Bordeaux châteaux, though the Chinese are hot on their heels.

Keen to expand their portfolios, Chinese investors have also set their sights on Burgundy, with Chinese gambling tycoon Louis Ng Chi Sing paying €8m in 2012 for Château de Gevrey-Chambertin.

There are around 7,400 winemaking châteaux in Bordeaux.