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Fine Wines Are no Excuse for Big Parties

CHINA (Beijing) – According to reports the Chinese COFCO, China’s largest food company and owned by the state, is said to have spent 200,000 RMB (about 28,000 euro) for a wine tasting in a luxury hotel in the south-western province of Yunnan. Several leading employees of COFCO, which were enjoying their paid vacation, were present during the wine tasting. Chinese media are guessing what could have been the reason for the high sum spent on a single wine tasting. It is assumed that mangers of the company organized the wines themselves anyhow instead of buying them at the single retailer. But the actual charge is: The managers had accounted official market prices with the state’s company for the wines at the expenses of the public.

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CHINA (Beijing) – Whereas producers with a small budget are concentrating on domestic markets, the big player of the wine business are about to conquer the hinterland of the urban centers. Big cities like Beijing and Shanghai are highly...

CHINA (Beijing) – There is no prospect of an end for the boom. During the past five years, the wine hype has also reached the middle class of the Chinese consumers. Their purchase power moves the camps from beer and baijiu (spirit) to...

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