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Hong Kong is the wine trading and distribution hub for Asia. It is also the world's largest wine auction centre for three consecutive years. Last year, Hong Kong imported about 50 million litres of wine, with 37 per cent re-exported and 63 per cent consumed within the city, according to Miss Gloria Lo, Director of the Hong Kong Economic and Trade Office (HKETO) in Toronto.
Speaking at the dinner organised by the Hong Kong-Canada Business Association (Toronto Section) today (September 11, Toronto time), Miss Lo highlighted the benefits offered by Hong Kong to the Canadian wine exporters. "The wine industry in Hong Kong has grown rapidly with the removal of all duty on wine since 2008. In regard to the import to Mainland China, the wines manufactured in Hong Kong can also enjoy advantages," said Miss Lo.
For instance, by using imported grapes for fermentation and further processing, the wines produced in Hong Kong can enjoy zero tariff in entering the Mainland. Currently, the imported wines to Mainland China from overseas have a tariff of up to 20 per cent. Besides, regardless of the origin of production, all wines to the Mainland through Hong Kong wine exporters can enjoy facilitating measures through pre-valuation of duty in Hong Kong and compression of clearance time at designated Mainland ports under a pilot scheme implemented in Shenzhen.
HKETO encouraged Canadian wine businesses to make use of Hong Kong's platform as the gateway to the Chinese market which was the biggest market for Canadian wine last year. Miss Lo also promoted to wine traders the Hong Kong Wine and Dine Festival to be held by the Hong Kong Tourism Board from October 31 to November 3, and the Hong Kong International Wine and Spirits Fair by the Hong Kong Trade Development Council from November 7 to 9. These wine events will provide great opportunities for wine tasting and the trading platform for wine dealers and exporters.
Ends/Thursday, September 12, 2013
Issued at HKT 07:40
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