The Australian Business Chamber signed an agreement with the Hangzhou Wine Association on Friday on trade and investment. Four Australian exporters in different industries also signed Memoranda of Understanding with Chinese partners on Friday [8 September 2017]. Among them, eco-friendly botanical cleaning producer Koala Eco [based in Sydney, New South Wales] will soon be launched on shopping website NetEase Koala [based in Hangzhou]. Mineral water from Go Fresh International [based in Sydney, NSW] and wine from Swan Wine Group [based near Sydney] will also enter the Chinese market…Full Article: Xinhua Sept 2017
- In January 2018, Chinese import tariffs for Australian wine will decrease to 2.8% before dropping to zero in 2019.
- In March 2017, China’s first international pet industry experimental zone was established in Jianggan District, eastern Hangzhou, Zhejiang Province. The zone, currently hosting the e-commerce platforms of Tmall, Beibei, and Kaola.
- In January 2017, Chinese import tariffs for Australian wine dropped to 5.6%. Prior to ChAFTA, Australian wine exports had a 14% import tariff rate.
- In October 2016, Wine Australia stated that China surpassed the USA and UK as Australia’s top wine export market. According to Wine Australia, over 1/3 of Australia’s wine exports to China were priced at least AU$7.50 per liter [~US5.70].
- In September 2016, Alibaba Group’s Tmall launched an online store to promote Australian wine. The new wine online store on Tmall.com will be managed by China’s Vinehoo.com.
- In April 2016, Alibaba’s Jack Ma announced the launch Tmall’s September 9 Wine Festival. The date was chosen because, in Chinese, the number nine sounds like “jiu,” which (depending on the tonal pronunciation) also means wine or alcohol.
- From January to March 2016, China imported US$160 million worth of Australian bottled wine, a 60% increase vis-à-vis 2015. Imports benefited from a cut in Chinese import tariffs (14% to 8.4%).
- In December 2015, China-Australia Free Trade Agreement (ChAFTA) came into force.
- In June 2015, China and Australia signed a free trade agreement.
- Founded in 2015 and headquartered in Hangzhou, Zhejiang Province, Kaola is a NetEase Inc (ADR)(NASDAQ:NTES) backed e-commerce platform that sells a variety of products including food items such as snacks, beverages, wine, dairy products, fruits, meat, and processed food. Kaola was also launched in conjunction with Sinotrans Limited (HKG:0598), a shipping logistics company.
Hong Kong Trends