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China's Top Wine Suppliers of 2024

China's Top Wine Suppliers of 2024

Is Wine Bad For You? / COFCO Appoints New GM/ Can Stored Wines Be Used as Collateral?

Natalie Wang
January 24, 2025

The first month of 2025 brings a flurry of noteworthy personnel changes among China’s alcohol giants, highlighting both former and current leaders and revealing a mix of new appointments and disciplinary investigations. China’s state-owned wine importer COFCO Wine & Wine has reappointed Jiao Guoqiang as its general manager, effectively filling a two-year vacancy. In contrast, both Moutai and Wuliangye, the two largest Baijiu companies, are facing scrutiny as their former chairmen are under investigation.

We have compiled and published China’s total wine import data for 2024, and the results tell a story of both recovery and complexity. After years of continuous decline, China’s wine imports have finally rebounded—a welcome turnaround for the industry. However, the recovery is uneven, with sharp declines and setbacks for some countries, while others have experienced surprising growth.

In this comprehensive analysis, we examine the performance of the top 10 wine suppliers to China and share insights from interviews with representatives of key wine associations to better understand what propelled growth and the combination of factors that resulted in the downturn.

Meanwhile another story is already raising alarms among wine merchants and collectors: if a company is in debt, can the wines stored within it be used as collateral? A case from Guangzhou illustrates this situation—read on and see if you agree with the court’s decision.

While wine has been taking a lot of backlashes from WHO and US Surgeon General, our newly joined writer Andew Sun, who also writes for SCMP, argues that yes wine is bad for you, so is driving and even breathing! Read his piece here.

Amid a downturn in China’s wine market, Sam’s Club, a favorite among the middle class, saw growth in its wine sales. Click to discover the most popular wine in this membership-based supermarket, which reportedly surpassed RMB 100 billion in annual sales last year.

Across the border in Hong Kong, during the challenging times of Covid-19—probably one of the worst periods to start a business amid a wave of closures—Pierre Legrandois, a seasoned wine expert, established Vinosophy to introduce “something exciting, cool, fresh, and new” to the city. In our interview, Legrandois shared personal stories, his deep connections to Hong Kong, and his insights about the city.

While wine smuggling between Malaysia and Thailand has conventionally been rare, recent developments—highlighted by a specific case—suggest it may be on the rise. The widening disparity in wine taxes between the two countries, exacerbated by Thailand’s policy change, is likely encouraging increased smuggling.

Stay on top of Asia’s fast-moving wine industry with our exclusive stories, and don’t forget to subscribe for premium insights and content.

China’s Top 10 Wine Suppliers of 2024: Stunning Comebacks, Sharp Declines, and Rising Stars

China's wine imports for the first time has rebounded in five years, and here are the top 10 wine suppliers driving the changing dynamics of one of the world's most influential markets.

Wine is Bad for You? Yes, But So is Everything Else

Did you know eating a hot dog will shorten your life span by 36 minutes, and even breathing too much oxygen is toxic to your body?

And now, they are coming for your wine! Andrew Sun here argues why he will take his chances with his Bordeaux.

Sam’s Club Breaks RMB 100 Billion Barrier: Will Its Wine Sales Hit New Highs in 2024?

Sam's Club, the popular membership warehouse, could be making record sales in 2024 but can its wine sales keep up?

COFCO Wine & Wine Appoints New General Manager

COFCO Wine & Wine, one of China’s largest wine importers, has brought back a veteran to steer its imported wine and spirits division in a market downturn.

Former Chairman of Wuliangye Under Investigation

Li Shuguang, the former chairman of Wuliangye, China’s second-largest state-owned Baijiu producer, is placed under investigation for alleged serious violations of discipline and law, authorities announced Jan. 10. The news prompted a 1% drop in the company’s stock price.

Meet the Founder of Vinosophy: Revolutionizing Wine Distribution for a New Generation

Having launched his business during the Covid-19 pandemic, Legrandois shared his insights on Hong Kong, an international wine hub currently facing challenging times.

Malaysia Uncovers Wine Smuggling Case Amid Rising Cross-Border Concerns

Malaysia uncovered a wine smuggling case from Thailand, raising alarm that cross-border smuggling may be on the rise following Thailand’s removal of wine import tariffs.

Can Stored Wines Be Used as Collateral?

When a wine trading company faces financial disputes, can its wines be used as collaterals? Additionally, how are the rights of clients who have ordered those wines protected?