Mar
4
Hong Kong
The Hong Kong Government abolished it’s excise tax on wine last year. Previously it was 80%. In 2007 it cut the tax in half – to 40%, and then, last year they eliminated the tax completely! The Chinese taste for wine is growing and Hong Kong wants to be the Asian hub for the industry.
The opening up of the wine industry in China is great news for California because 90% of US wine exports are from California. In fact, California moved past the $1 billion dollar milestone in 2008. About half of US wine exports are shipped to the European Union, followed by Canada, Japan, then Hong Kong and Mexico. Cheers!
Tags: Add new tag, china, hong kong, wine
