China's business taste for wine
China's business taste for wine
Nov 21, 2012 6
(ChinaDaily) - For many Europeans and Americans, drinking is an art form worth savoring. Wine gets served for special occasions or with delicious meals. Wine connoisseurs love to taste, smell and learn the special history of each bottle they drink.
Nevertheless, say the word "wine" to China's wealthiest business people and they are more likely to ponder new investment opportunities.
Some might consider that crass, but the wine industry is a business just like any other, which needs funding for its châteaux's, technical upgrades for wineries and a more efficient logistics network to ship bottles to consumers worldwide. Chinese investors are boosting cash flow for many of those involved in the industry.
Yet some Europeans have complained about the Chinese newfound passion for the elixir, claiming they're acting "over-the-top" and inflating prices. They contend the Chinese do not comprehend cultural sensibilities for wine consumption.
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