Hong Kong imported 1bn US dollars’ worth of wine in 2013. 100m US dollars’ worth of this was of re-exported to Mainland China, said the region’s secretary of commerce and economic development, at the opening of the Vinexpo Asia Pacific expo this morning on May 27.
He said that the 2013 import figure is five times the value of wine imported in 2007. 2007 was the final year before the regional government abolished duty in order to promote itself as a gateway to the Mainland of China.
However, figures from the Hong Kong Trade Development Council show that the region also imported around US$1bn of wine in 2012. This was an 18% drop on the value of imports in 2011.
The lack of a recovery in 2013 suggests that Hong Kong has continued to feel the knock-on effects of the Chinese government’s austerity measures. These measures have curtailed officials’ entertainment spending both within the Hong KOnd region and in Mainland China – this has reduced spending on upmarket imported wines.