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France media: French wines of the most benefit from the zero tariff policy in Hong Kong

Recently reported that the cancellation of Hong Kong since the abolition of wine tax, wine merchants around the world poured into Hong Kong, the industry sales, auctions, logistics, warehousing and so on along the rapid development of the industry means that Hong Kongs wine market potential economic revenues of 10 billion Hong Kong dollars about 900 million euros, is expected to replace London as the worlds second-largest wine auction center.

   Reported that many countries rich in red wine because of the zero-tariff policy benefit Hong Kong. Ma Yu Xuan, general manager of the French Food Association, said the first 10 months last year, Hong Kongs imports of French wine worth about 15 billion Hong Kong dollars about 135 million euros, compared with 26.4% growth in 2008 is expected to grow 30 percent last year, as in the the amount of calculation, the French red wine accounted for 53.3% of the Hong Kong market. She expected that this year, import value and quantity of French red wine may increase by 25%.

   TDC announced that the first 9 months last year, Hong Kongs wine import value reached 2.8 billion Hong Kong dollars, compared with 40% surge in 2008. Hong Kong, a well-known wine analysis, since the abolition of wine duty, though it makes the tax loss of nearly 15 billion Hong Kong dollars, but to promote the wine industry, hotel industry, logistics, finance, tourism development in various industries, the economic revenue up to 100 billion HK dollars. Hong Kong Financial Secretary John Tsang is expected to Hong Kong this year is expected to go beyond London, to become the worlds second-largest wine auction center, second only to New York.

   Reported that many foreign countries including France, wine is even more fancy adjacent to the huge Mainland market, Hong Kongs geographical location, has been actively deployed to Hong Kong extension point. On the other hand, Hong Kongs exports to the Mainland can enjoy two of wine early next year to facilitate customs clearance time can be shortened to 3 to 7 days, importers will be attracted to the mainland to Hong Kong to further develop Hong Kongs future is expected to become "Asias wine center."

   According to expert analysis, Hong Kong is to build "Asias Wine Center," The problem is that the market is small, intense competition, but the local industrys wine knowledge and appreciation of the ranks first in the Asian region is the "core competencies" and shall be in the Mainland market backed with foreign traders may get more bargaining chips. Meanwhile, the mainland through Hong Kong traders trade, can rapidly raise the overall educational level of wine, more wine and convenient access to first-hand information to protect the profit-maximizing.

   Reported that there are traders statistics, 80 percent of the companys wines are sold to the mainland, the market mainly in the Pearl River Delta region. In fact, the wine imported from the Mainland via Hong Kong re-exports account for about 40%. It is understood that the Hong Kong wine auction, nearly 8 percent of wines have been bought by mainlanders collections, evident in the Mainland is still a huge potential wine market is Hong Kongs move towards "Asias wine center" an important driving force.
 

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