The government of China’s Hong Kong Special Administrative Region (HKSAR) said on Friday [15 December 2017] that it has signed a memorandum of understanding (MoU) on cooperation in wine-related businesses with Argentina. The document, signed by HKSAR Secretary for Commerce Economic Development Edward Yau with Argentinean Investment and Trade Promotion Agency Chief Executive Officer Juan Pablo Tripodi on Thursday in Bueno Aires, will facilitate cooperation between the two sides in wine-related trading and investment promotion, education and training, tourism, and prevention of counterfeiting…Full Article: Xinhua Dec 2017

Key Point

  • Hong Kong has wine trade agreements with Australia, Chile, France, Germany, Hungary, Italy, New Zealand, Portugal, Romania, Slovenia, Spain, and the USA.

ChinaAg Comments

  • In November 2017, Hong Kong Trade Development Council (HKTDC) announced wine re-exports to mainland China will now receive instant customs clearance.
  • In May 2017, Alibaba Group’s Jack Ma and the President of Argentina signed a MoU in Buenos Aires. As a result, Argentinian agriculture goods (e.g. wine and fresh produce) may be distributed and marketed via Alibaba’s Tmall in China.
  • From 2007 to 2016, according the Hong Kong Trade Development Council (HKTDC), Hong Kong’s wine imports increased from approximately USD 206 million to USD 1.54 billion (~USD 975 million of which was from France).
  • From 2015 to 2016, Hong Kong’s wine imports increased from 54.7 million liters to 62.9 million liters. In 2016, approximately 95% of Hong Kong’s wine imports were comprised of bottled wine, while the remaining share was bulk wine and sparkling wine. France, Australia, the USA, and Chile were the largest wine suppliers to the Hong Kong market.
  • In 2013, China (including Hong Kong) consumed 1.87 billion bottles of wine (155 million 9-liter cases or 1.39 billion liters) of wine.
  • From 2007 to 2012, mainland China’s bottled wine imports skyrocketed from 42.2 million liters to 264.2 million liters (+525%), while equivalent import values increased from US$184 million to US$1.37 billion (+648%). France was the top supplier and saw its import market share (by volume) increase from 37% to 48% over the same time period.

Hong Kong Trends

Similar Posts by ChinaAg

Spread the word. Share this post!