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22:58, 09-Nov-2017
Hong Kong wine fair to boost global wine industry
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The Hong Kong regional government announced Thursday that wine re-exported from the Special Administrative Region will enjoy instant customs clearance in all districts of the Chinese mainland from November 9.
The extension of customs facilitation measures was introduced to support international wine traders in tapping into the Chinese mainland market and strengthening Hong Kong's position as Asia's wine hub, a spokesman for the Commerce and Economic Development Bureau said.
The 10th Hong Kong International Wine & Spirits Fair organized by the Hong Kong Trade Development Council (HKTDC) opened Thursday and runs through November 11 at the Hong Kong Convention and Exhibition Center.
/Reuters Photo.
/Reuters Photo.
This year's fair displayed fine wines and spirits brought by 1,070 exhibitors from 38 countries and regions, including new exhibitors from Malaysia, Mauritius, Romania, Serbia and Ukraine, reaching a record high during the past decade.
Chan Mo-po, financial secretary of the HKSAR government, said at the opening ceremony that the Hong Kong wine trade has good prospects for growth, considering the Chinese mainland is the biggest market for wine re-exported from Hong Kong.
Hong Kong is growing into a leading wine hub as it is perfectly positioned to connect international producers and suppliers with Asian investors, distributors and consumers.
/Reuters Photo.
/Reuters Photo.
Executive Director of the HKTDC, Margaret Fong, said: "Now more than ever, Hong Kong enjoys an incomparable advantage as Asia's gateway for the global wine industry."
According to Euromonitor International forecasts, wine sales in Asia will see an annual growth rate of 8.5 percent from 2016 to 2021.
Michael Partridge, export manager of Petersons Wines, an exhibitor from Australia, said that most of the exhibitors at the wine fair are looking for channels of distribution in Asian market.
"It is all about tipping our toes to see what is out there, which is why we are here," he said.
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Source(s): Xinhua News Agency