The Chinese have become addicted to expensive wines

Wineries are springing up rapidly across Shanghai, the country's glamorous financial capital, where young Chinese professionals congregate after work and regularly spend around 1.000 yuan ($152) for a bottle of wine.
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S1525_1, Photo: Foio AFP
S1525_1, Photo: Foio AFP
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.
Ažurirano: 03.01.2011. 20:09h

After an explosion in demand for designer bags, Italian suits and fast cars, expensive French and Italian wines are next on the list of must-haves for the wealthy Chinese consumer.

Wineries are springing up rapidly across Shanghai, the country's glamorous financial capital, where young Chinese professionals congregate after work and regularly spend around 1.000 yuan ($152) for a bottle of wine.

Wineries are springing up rapidly across Shanghai, the country's glamorous financial capital, where young Chinese professionals congregate after work and regularly spend around 1.000 yuan ($152) for a bottle of wine.

"The Chinese are very ambitious and materialistic, so once they buy the best local brand, they start looking for something even better and more expensive," said Chung Po Tiong, a columnist who writes about wine.

And while China's domestic wine market is growing, industry experts say it's more fashionable to drink wine made abroad, and he predicts consumption will double within the next five years.

Among the favorite wines are the French Chateau Lafitte Rothschild, the cheapest of which costs around $1.000 per bottle, and Chateau Latour.

"There are two types of respect for wine in China. If someone buys and serves wine to thank someone for their service, then it is socially desirable to offer expensive wine," said Chung.

"And then there are people who drink wine with friends and family and then that bottle of wine is not a status symbol".

Wine lovers say production of the drink has increased dramatically over the past decade, prompting strong initiatives for winemakers and companies to tap into the lucrative Chinese market.

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