Since China was recognized as the 8th largest wine market globally, it has sped forward to compete internationally with the other top markets. Dynasty Fine Wine Group Ltd leads the way with more than 30 years under their belt in wine making and distribution. And their efforts haven’t gone unnoticed. One of the world’s most renowned winemakers, France’s Michel Rolland, has deemed the Dynasty Merlot one of the most recommended red wines from China to date.
This recommendation has spurred wine relations between France and China. Thirty years ago was a different story, comments Rolland, “…but now I’m tasting the wines produced by Dynasty, and they are among the world’s best.” This is a significant boost to China’s reputation as a competing market on the global wine scene, creating a demand for Dynasty and pushing prices upward for a more lucrative venture.
Of course, Rolland noted, there’s room for improvement and “…this is why I came here and discussed with Dynasty how to enhance their technique to make finer wines.” As for the rest of the Chinese winemaking establishment, there is still a large gap between them and the high standards of the rest of the world.
Being the leading wine producer in China’s wine industry, Dynasty has brought the China wine market to the international arena and has made history for that nation. Rolland has only made this more a profound statement for the wine makers at Dynasty. It also will push the rest of the Chinese producers to achieve the high quality Dynasty has and bring the market to even higher regards. The investment China has now in its wines is no small venture. It must produce to retain its foothold in the international community. Its techniques must be refined and quality must grow throughout its vineyards to maintain its recent momentum.
In 2008, Hong Kong dropped its tariffs on wine imports from 40% to zero. This has put the squeeze on local winemakers to up their quality. One reason is that imports have dropped in price, increasing competition. The move has also made Hong Kong the wine hub of the Asian market. The great Sotheby’s auction house says China has become their largest market, doubling the sales of London and New York the previous year. These new lower priced wines have increased sales in China, which is now up 72% for 2010 over the previous year.