

Gourmet Wine & Dine Ltd
EXCITING LIVING - EVERYDAY!
Call Us Today For More Information
(English) +86 13910191249
(Chinese) +86 13570641386
LATEST INDUSTRY HEADLINES

After removing tariffs, Hainan, China’s biggest duty-free market, is planning to remove VAT and excise tax for imported wine and spirits in a bold move to further boost its attractiveness for tourists, as wealthy Chinese shoppers shift their spending back to home.

Data for the performance of China’s domestic wine market during 2022 makes for bleak reading, but while the downward trend continues there are signs of recovery.

As China’s economy rebounds, global spirits giants are rubbing their hands together in anticipation of growth. But they may want to watch out for a surplus in baijiu stock…

As China’s economy rebounds, global spirits giants are rubbing their hands together in anticipation of growth. But they may want to watch out for a surplus in baijiu stock…

The 14th HKTDC Hong Kong International Wine & Spirits Fair (Special Edition) ended on January 11 after a two-day run at a much smaller scale and less fanfare, as Hong Kong struggles to attract visitors despite loosened Covid rules.

Hong Kong customs have seized 9,000 bottles of smuggled wines inside two ocean-going vessels headed to Shanghai in a massive raid that led to seizure of more than HK$200 million (US$25.6 million) worth of smuggled goods including wine, expensive food ingredients, electronic goods, vinyl records and medicine, according to Hong Kong government.

Chinese stocks soared in the wake of border restrictions being lifted between Hong Kong and mainland China for the first time in almost three years, signalling hope for drinks brands in the market.

Champagne exports rocketed in 2022 amid soaring demand for fine fizz, meaning producers are now putting measures in place to mitigate the risk of a shortage for Valentine’s Day.

Italian wine exports are booming in the first 8 months of the year despite surging energy crisis and inflation, but suffered setbacks in the vast Asian market where exports to mainland China, Hong Kong and South Korea plunged.

Rising consumer purchasing power will propel the lucrative Chinese ice cream market to growth over the next three years, according to research – even if a surge of COVID-19 cases may keep restaurants and ice cream parlors shut for parts of this winter.

Bordeaux stages biggest wine protest in decades after plunging sales to China
Bordeaux winemakers staged the biggest protest in nearly two decades to call for government aid for a vine-pulling scheme that is expected to uproot 10% of Bordeaux vineyards following plunging wine demand from its biggest export market, China.

Prosecco DOC x Restaurants Campaign kicks off in Hong Kong
Consorzio di Tutela del Prosecco DOC (Prosecco DOC) has launched its first “Prosecco DOC x Restaurants Campaign” in Hong Kong, teaming up with some of the city’s best restaurants and hotels to bring Prosecco DOC to life and promote Italy’s beloved aperitif and food tradition to Hong Kong’s food and wine lovers.

Over 40,000 fake Lafite and Penfolds wines uncovered in Fujian
Fujian, the affluent coastal province in southern China, has announced one of the province’s biggest fake wine busts in its history: over 40,000 bottles of fake DBR Lafite and Penfolds were uncovered in a police raid with value well worth over RMB 11 million (US$1.56 million).

Liv-ex: China will not be riding to rescue global wine trade
In one of its grimmer estimates, Liv-ex, the London-based fine wine trading platform, warned that with China’s sagging economic growth and political uncertainties, its allure for global wine merchants has dimmed and the country “will not be riding to the rescue of the global wine trade in difficult times ahead”