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China’s Big Cellars and Deep Pockets

May 17, 2011
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I have often blogged about China’s rapid rise a buyer of the world’s fine wine. The BBC confirmed this trend in a recentarticle that asked “could China’s thirst for fine wine, empty the cellars of the western world?”.

“That’s the question being asked ever since Hong Kong has become the centre of the global wine trade, with more money raised at wine auctions there than in London or New York last year” the BBC reported.

“Whether they are top officials who want to show off to their friends or successful entrepreneurs who want to use their money to build cellars to rival those of their business partners, the Chinese are buying up a lot of the best vintages, leaving less for collectors elsewhere.”

Hong Kong-based wine maker Lysanne Tusar, who works with imported grapes, told the BBC she believes the wine industry is moving its focus eastward.

“There’s been a shift of wines from all over the world to Asia, and people in the industry coming here too,” Tusar said. “This is not a fad… I think it could perhaps change the face of the wine industry.”

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