Business and Finance News from the HK is reporting that Beijing has agreed to provide two new facilitation measures in which wine exported from HK to the mainland.
1. Importers who have registered with Mainland customs authorities can ask for a pre-valuation of wine duty 10 working days before a shipment is exported from Hong Kong to the Mainland. When it arrives at a Mainland boundary point, Mainland customs will valuate it within one working day
2. For registered importers who have not chosen to conduct wine duty pre-valuation, Mainland customs will strive to shorten the clearance time at Mainland boundary points. For wines which have been imported to the Mainland before, with submission of all the necessary documents and no irregularities identified after inspection, the clearance procedures will normally take no more than three working days. For wines which are new to the Mainland market, the valuation procedures will usually be completed within seven working days. If the customs clearance cannot be completed in time, the goods can still be released with a guarantee deposit.
The measures will first be implemented as a pilot in Shenzhen, and may be extended to other major Mainland boundary points subject to development. Both sides will work towards the target of implementing the measures early next year.
Mir Global Marketing LLC’s winter promotional tour of the major Chinese metropolises is now under way. For the next few weeks we will be bring you updates live from the Chinese cities of Shanghai, Guangzhou and Beijing.
Evan Osnos, well renowned wine guru of the New Yorker, writes about China’s sudden romance with wine. The notion of getting rich by selling wine in China has a long history, which is marked almost entirely by failure.
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Prospects have sharply improved since the days of the Baron, and, today, China is one of the world’s fastest-growing wine markets. (Chinese buyers are consuming so much that they are affecting wine prices for some of the most expensive bottles.) In this video, produced by Mengfan Wu, we visit a wine class hosted by Torres China, which is trying to introduce new consumers to an unfamiliar product. We also hear from Don St. Pierre, Jr., the chief executive of A.S.C. Fine Wines, who explains why Chinese consumers sometimes prefer to down their glasses in a single enthusiastic gulp.
Bringing fine wines from around the world to markets throughout Asia.
Join us this winter (Nov 25 – Dec 17), this winter in the Chinese cities of Shanghai, Beijing and Guangzhou as Mir Global Marketing LLC presents our wines of the world in China’s fastest most sophisticated urban centers.
If you would like to request information about our upcoming promo tour of the Middle Kingdom (China), please email our International Trade Consultant, Bennett Reiss for more information
Inconsistency… Oh “sigh…,” Argentina. So much potential, yet always able to sporadically disappoint (which you will see upon watching the episode, which includes three bad apples).
One of the primary reasons, Mir Global Marketing LLC heavily investigated and nurtured our collaborations down in Argentina. The country is home to perhaps one of the most conducive soils for producing wine, yet remains riddled with bureaucratic and inefficient institutions which impede it from truly flourishing.
HONG KONG — Chinese wine imports have soared more than ten-fold in the past few years but foreign producers hoping to cash in on the boom are warning the market is fickle and not for the faint of heart.
China is on track to import 10 million cases of wine this year, up from 840,000 in 2004, according to the Hong Kong Trade Development Council (HKTDC).
Wangfujing, Beijing - 2006
Asian wine consumption, excluding Japan, is expected to double from this year to 27 billion US dollars in 2017, the council believes, with much of that growth driven by Hong Kong and cash-rich China.
In another sign of the growth of the market, last week’s Hong Kong International Wine and Spirits Fair, the second such annual event, attracted 520 exhibitors from 34 countries — double last year’s number.
“Many people are shocked by the speed of the growth,” said Raymond Yip, the HKTDC’s assistant director. “But there is a lot of pent-up demand for wine.”
The disposable income of an emerging Chinese middle class has grown and many of its members are choosing wine as a healthier alternative to spirits, Yip said.
“People are getting more health conscious and all of a sudden wine has become fashionable,” he added.
But Raymond Signorello, proprietor of Signorello Vineyards in California’s Napa Valley, said he has been struggling to find the right agent to market his premium reds on the mainland.
“It’s kind of a gold rush,” he told AFP from his booth at the fair.
[...] Click here to read the full article from AFP
* Market: Food and Drink
* Published Date: 21/10/2009
* Report Title: Wine – BRIC (Brazil, Russia, India, China) Industry Guide
* Table of Contents: View Table of Contents
* Report Type: Market Report
* Country: Global
* Number of Pages: 102
The Wine – BRIC (Brazil, Russia, India, China) Industry Guide is an essential resource for top-level data and analysis covering the BRIC (Brazil, Russia, India, China) Wine industry. The report includes easily comparable data on market value, volume, segmentation and market share, plus full five year market forecasts. It examines future problems, innovations and potential growth areas within the market.
Scope of the Report
Contains an executive summary and data on value, volume and segmentation
Provides textual analysis of the industry´s prospects, competitive landscape and profiles of the leading companies
Incorporates in-depth five forces competitive environment analysis and scorecards
Compares data from Brazil, Russia, India, and China, alongside individual chapters on each BRIC country; Brazil, Russia, India and China
Includes a five-year forecast of the industry
Highlights
The BRIC Wine market grew by 8.5% between 2004 and 2008 to reach a value of $25.3 billion.
In 2013, the market is forecast to have a value of $34.6 billion, an increase of 6.5% from 2008.
India was the fastest growing country with a CAGR of 21.2% over the 2004?08 period.
Why you should buy this report
Spot future trends and developments
Inform your business decisions
Add weight to presentations and marketing materials
Save time carrying out entry-level research
Market Definition
The wine market consists of fortified wine, sparkling wine and still wine. The market is valued according to retail selling price (RSP) and includes any applicable taxes.
Click here to view the table of contents from the report
The China chapter breaks down as follows:CHAPTER 6 WINE IN CHINA 78
6.1 Market Overview 78
6.2 Market Value 79
6.3 Market Volume 80
6.4 Market Segmentation I 81
6.5 Market Segmentation II 82
6.6 Market Share 83
6.7 Five Forces Analysis 84
6.8 Leading Companies 92
6.9 Distribution 97
6.10 Market Forecasts 98
6.11 Macroeconomic Indicators 100
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