HK wine exporters open doors to China

The eighth Hong Kong Trade Development Council (HKTDC) International Wine and Spirits Fair has begun with the spotlight put on the city’s role as a re-exporter to Mainland China.

Hong KongOpened this morning (5 November) at the Exhibition and Convention Centre, John Tsang, financial secretary for the HKSAR Government, gave a brief overview of the state of the Hong Kong wine market at his opening address to the media.

He reported that wine imports to Hong Kong rose 5% by value from 2013 to 2014, to HK$8.4 billion, while HK$800m worth of wine was sold at auction last year. Little was said further about the city’s own wine drinking scene but Tsang placed special emphasis on Hong Kong’s position as a hub, particularly with regards re-exports to the mainland.

He said that HK$2.4bn worth of wine had been re-exported in 2014 a 52% increase on 2013, 60% of it to greater China, a rise of 86% on 2013. As of January-September of this year, that share of re-exports to China has risen to 82% and the value of re-exports is already standing at HK$3.2bn according to the HKTDC.

Although not mentioned at the opening ceremony, re-exports to Vietnam also rose greatly last year (from a very small base) and slightly for Macau. However re-exports to the increasingly vibrant wine markets of Singapore and Taiwan fell 27.8% and 14.9% respectively between 2013 and 2014.

Tsang said he was, “pleased to note” that Hong Kong’s wine storage accreditation scheme and rigorous customs checks against counterfeit wines was breeding trust in China for wines that had passed through Hong Kong, as well as the ease with which wines can now cross the border thanks to a customs deal struck last year.

“Trust breeds business,” he said. “[China] trusts in Hong Kong as a wine hub. Hong Kong will channel the flow of wine to China. We open doors, we open bottles.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Supply Chain Assistant

Speciality Drinks
London NW10 7SF, UK

On-Trade Regional Sales Manager

Anthony Byrne Fine Wines
West Midlands & Northants

Supply Chain Co-ordinator

Speciality Drinks
London NW10 7SF, UK

Logistics Team Leader

Speciality Drinks
London, UK

Key Account Executive

Berkmann Wine Cellars
London, UK

London Account Manager

Speciality Drinks
London, UK

Assistant Operations Manager

Speciality Drinks
London, UK

Sales - Global Wine Competitions

The Drinks Business
London, UK

London Business Development Manager

Vine Distribution Services
Chelmsford, UK

Off-Trade Account Manager

Justerinis & Brooks
London, UK

Vinitaly 2019

Verona,Italy
7th Apr 2019

The Wine & Spirits Show

London,United Kingdom
12th Apr 2019

Vinexpo Bordeaux

Bordeaux,France
13th May 2019
Click to view more

The Prosecco Masters 2019

Deadline : 22nd March 2019

The Global Sparkling Masters 2019

Deadline : 25th March 2019

Click to view more

The Global Riesling Masters 2018

View Results

Rioja Masters 2018

View Results

Click to view more