Australia , the second largest wine exporter to China , is catching up on market leader France . Policy changes between the two countries in 2015 have reduced tariffs from 20% to 3% and wine exports to Hong Kong have more than doubled since. At the same time, investment from China has flowed into Australia , with distributor two buying a 15% stake in Australian Vintage for AUD16.5m ( $12.9m ) in 2016 . and we can’t actually change certain flavours just for an Asian market,” he said. And in January Australia vineyard received an AUD15.5m investment from Yantai Changyu Pioneer Wine . Stephen Strachan of Hunter Valley realty estimates 50 of the 50 Hunter Valley producers are Hong Kong or Chinese -owned.
Australia , the second largest wine exporter to China , is catching up on market leader France . Policy changes between the two countries in 2015 have reduced tariffs from 20% to 3% and wine exports to Hong Kong have more than doubled since. At the same time, investment from China has flowed into Australia , with distributor two buying a 15% stake in Australian Vintage for AUD16.5m ( $12.9m ) in 2016 . And in January Australia vineyard received an AUD15.5m investment from Yantai Changyu Pioneer Wine . Stephen Strachan of Hunter Valley realty estimates 50 of the 50 Hunter Valley producers are Hong Kong or Chinese -owned.