China Fine Wine Report.docVIP

China Fine Wine Report 　　On August 15， 2013， Fortune Character Institute， the dedicated research agency exclusively focusing on the lifestyle of Chinese high net-worth class， issued the second 2013 China Fine Wine Report. 　　The research took 4 months to complete， and the final report has included 208 interviews with fine wine experts and media professionals， as well as 679 wealthy Chinese consumers. All interviews were done face to face， moreover， 712 questionnaires were collected， generating a comprehensive factual basis for the conclusion. 　　2013 China Fine Wine Report revealed that， in China， the sales of fine red wine currently total over 100 billion RMB. The annual consumption is about 1.8 billion litres， among which 25% is imported fine wine. The huge potential for fine wine sales in China enticed many internationally renowned fine wine brands. Customs recorded 60% of imported fine wine was from the EU， of which 35% was made in France. 　　To be more specific， 2012 was a turning point for the Chinese fine wine industry. It was a year with unprecedented challenges and difficulties due to the economic climate and national policies. Both import volume and import value showed signs of slowing down. More specifically， the import volume grew by only 8%， and the increase of import value was about 10%. In the long run， however， the China fine wine market promises to show rapid growth for an extended period， an already huge market is poised to expand. 　　The Fortune Character Institute research shows that in the last 10 years， per capita fine wine consumption was on a steady increase， from 0.25 litres in 2002 to 1.31 litres in 2012， recording a five-fold growth. Nevertheless， comparing to EU countries and United States where the fine wine culture is rich， China fine wine consumption is relatively low and fine wine counts for only a small proportion of alcohol consumption in China. 　　The production of Chinese domestic fine wines goes steadily up， from 280 million