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Is Hong Kong Falling Out of Love With Wine?

Is Hong Kong Falling Out of Love With Wine?

Zachys Shuts HK office/ China Mulls Free Trade With South Africa/ China, France Reach Preliminary Deal on Brandy

Natalie Wang
June 16, 2025

There’s good news brewing for the wine trade — and not just from the vineyards. South African wines may soon enter China tariff-free, as President Xi pledges to establish free trade agreements with 53 African nations. Could this finally unlock China’s appetite for South African wine?

Meanwhile, after over a year of back-and-forth, China and France appear to be heading toward resolution on brandy tariffs, with a pricing agreement that signals a full deal may be imminent before the July 5 deadline.

But not all is smooth sailing. China’s biggest wine producer, Changyu, is offloading its French asset amid financial woes.

In our latest data visualisation project, we tracked two decades of alcohol consumption in Hong Kong using government data — and the results are sobering. Among wine, beer, and spirits, it’s wine that experienced the most dramatic swings over the past 20 years. But why has wine, more than any other category, borne the brunt of Hong Kong’s declining alcohol consumption?

And in a further blow to the city’s wine trade, for the first time ever, Hong Kong’s spirits imports have surpassed wine imports in value.

Adding to the shake-up, we've exclusively learned that American wine auction house Zachys is winding down operations in Hong Kong. What does this say about the state of fine wine trading in Asia?

On the Chinese wine front, there are signs of transformation. Domaine de Long Dai — Lafite’s prestige winery in Shandong — may soon debut a white wine.

And in a bold move, a group of next-gen, small-scale Chinese winemakers has formed an alliance to push their wines into international markets. Can they rewrite the global narrative about Chinese wine?

Finally, in our continuing series on youth drinking culture, a surprising shift: young Chinese couples are rejecting alcohol at their weddings and toasting with bubble tea instead. Is this the beginning of the end for China’s traditional ganbei culture?

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Hong Kong’s Changing Taste for Alcohol: What Two Decades of Data Reveal

How much alcohol are people in Hong Kong drinking? Which drinks are falling out of favour, and which ones are bouncing back? We crunched the numbers from the past 20 years—so you don’t have to.

South African Wines May Soon Flow Freely into China

South African wine could be the next to enjoy zero-tariff access to China under a sweeping new trade policy that Beijing has proposed this week for 53 African countries.

China, France Reach Preliminary Deal on Brandy Prices

China and French brandy producers have reached a preliminary agreement on pricing, a key development in Beijing’s anti-dumping investigation into European brandy imports that signals easing tensions between the two sides.

Is Lafite’s First Chinese White Wine on the Way?

DBR Lafite Group has imported 20,000 grapevine cuttings from France to its Chinese winery in Shandong, including three white wine varietals, marking a strategic push into the country’s growing white wine market.

Changyu Sells French Cognac Estate for $5.2 Million to Cut Losses

Changyu, China’s largest wine producer, is selling its French Cognac estate and related property for 4.8 million euros (about US$5.2 million) as part of ongoing efforts to offload underperforming assets and shore up its finances.

TWE Doubles Down on LoNo Wine with A$15 Million Facility

Treasury Wine Estates has launched a A$15 million dedicated facility for low- and no-alcohol wine production in South Australia’s Barossa Valley, marking a major investment in the growing global demand for lower-alcohol alternatives.

Spirits Overtake Wine in Hong Kong Imports for First Time

Hong Kong’s spirits imports have surpassed wine imports for the first time since the city scrapped wine duties in 2008, following a recent cut in tariffs on premium spirits.

Zachys Winds Down Hong Kong Operations After 17 Years

American wine auction house Zachys has reportedly closed its Hong Kong office after 17 years of operation, marking a shocking retreat from Asia’s key fine wine hub.

China’s Top 100 Importers

The 237-page report offers an in-depth analysis of regional dynamics and market opportunities across North China, Northeast China, East China, South Central, Southwest, and Northwest China. It identifies the top 100 wine importers currently operating in mainland China. This regional breakdown provides a clear picture of where market influence is concentrated—and how each part of the country is shaping the growth and transformation of wine consumption in China.

China’s Indie Winemakers Are Rising—and They’re Going Global

A new generation of Chinese winemakers is breaking away from big-budget châteaux and industrial formulas. United by a shared passion for craft, identity, and terroir, these indie producers are banding together to reshape the future of Chinese wine—at home and on the global stage.

Bubble Tea Over Booze: How Young Chinese Are Rewriting Wedding Norms

Cigarettes and alcohol—once the cornerstones of Chinese wedding banquets—are being quietly replaced by something sweeter and far less traditional: bubble tea.