ASC Fine Wines partners with Waigaoqiao ITOC
Importer and distributor ASC Fine Wines aims to redefine how global wine brands enter the Chinese market with a freshly-inked partnership.
ASC Fine Wines has partnered with logistics and trading company Shanghai Waigaoqiao International Trading Operation Center Co Ltd (ITOC), a key platform within the Shanghai Pilot Free Trade Zone – an experimental economic zone in Shanghai, China, established in 2013 to trial reforms in investment, trade, and finance.
The two companies have signed a comprehensive Memorandum of Understanding (MOU). The partnership aims to streamline import processes, optimise logistics, and accelerate market access for international wine brands.
ASC and ITOC are long-standing collaborators and their work together has facilitated a cumulative trade volume exceeding CNY1.38 billion.
The new partnership includes a Wine Concierge Service, which offers end-to-end support for brands looking to enter the Chinese market, including regulatory compliance guidance, customised route-to-market planning, branding assistance and access to ASC’s distribution network.
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ASC and ITOC will jointly explore tailored financial and trade-facilitation solutions to support ASC’s expanding import operations and strengthen its service platform for partner wineries.
Wineries will be able to store their products under their ownership in ASC’s bonded warehouse within the Free Trade Zone.
Through this platform, customers can purchase wines directly from bond and choose to continue storing them under bonded conditions. When needed, ASC will coordinate full duty and tax payment and arrange delivery either to its duty-paid warehouse operated in partnership with GFS or directly to the customer’s designated storage. This model combines regulatory compliance, cost efficiency, and service convenience, setting a new benchmark for fine-wine logistics in China.
“This partnership reflects our deep trust in ITOC and our unwavering confidence in the future of China’s imported wine market,” said Don St. Pierre Jr, CEO of ASC Fine Wines. “Together we are creating a dynamic and adaptable platform that empowers wineries to enter the Chinese market with greater ease, efficiency, and strategic control across all aspects of their business.”
Mr. Guoguang He, party secretary and chairman of ITOC, added: “We are proud to align this initiative with China’s national strategy of high-standard opening-up. By combining ASC’s market expertise with the Free Trade Zone’s logistical and policy advantages, we are setting a new benchmark for international trade collaboration in the wine sector.”
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