Wine Industry in China Set to Boom
Wine Industry in China Set to Boom
Nov 9, 2011 6
(IBTimes) - The rapid economic development that China seems to be enjoying extends into investments in the production of red wine, particularly as a means to attain long-term profits.The Chinese wine market is expected to be worth 50 million nine liter cases within five years and up to 100 million nine liter cases in 10 years, according to Ian Ford, a partner at Chinese import firm, Summergate Fine Wines.
Speaking at the Wine Future conference in Hong Kong, Ford said that imported wine currently accounted for 23 million nine liter cases, showing an increase from 16.5 million cases in 2010.
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