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Meet Xing Wei MW: China’s Youngest Master of Wine

Meet Xing Wei MW: China’s Youngest Master of Wine

China Holds Off on Anti-Dumping Duties for EU Brandy/ Leading Wine Storage Company in Financial Turmoil/ Penfolds Confirms Plans to Build Vineyard and Winery in China

Natalie Wang
August 30, 2024

Hello from Natalie at Vino Joy News! This week, we're bringing you an exclusive and exhilarating dive into the China’s wine scene.

We start with a groundbreaking story from China, where the wine industry's newest star, Xing Wei MW, has just become the country’s youngest Master of Wine. In this exclusive interview with us, Xing Wei opens up about his past struggles, the arrogance and prejudice that he once saw as the biggest challenge for wine industry, and his insights into young consumer buying behaviors.

Meanwhile, brandy producers across the EU have reason to celebrate as China's Ministry of Commerce holds off on imposing hefty anti-dumping duties, despite significant dumping margins. The relief is palpable, but how long will it last?

The intrigue deepens with an update from Penfolds, which is gearing up to expand its footprint in China. The company has plans to establish new vineyards and a winery, yet the precise location—whether Ningxia, Yunnan, or both—remains shrouded in mystery.

In southern China, a leading wine importer is grappling with severe financial woes, complicating the lives of many importers struggling to reclaim their stocks. And in a patriotic turn, a former Chief Executive of Hong Kong has advocated for exclusively Chinese wines at national day celebrations. Will this move boost Chinese wine sales or might it backfire?

Stay tuned as these stories unfold, right here at Vino Joy News. Explore more below.

Meet Xing Wei: China’s Youngest Master of Wine and His Vision for the Future

In the exclusive interview with Xing Wei MW, the latest and youngest MW in China, he opens up about his past struggles, the arrogance and prejudice he once saw as the industry’s biggest challenges, why he considered leaving wine industry the moment he achieved the MW title, and what ultimately made him stay.

He also shares why he doesn’t believe attracting young consumers is the magic silver bullet to solving current wine industry problems, and the cultural factors defining and differentiating Chinese consumers from their Western counterparts.

Breaking: China Holds Off on Anti-Dumping Duties for EU Brandy

China’s Ministry of Commerce announced Tuesday that it will not impose immediate anti-dumping duties on European Union brandy imports, despite finding that the products are being dumped in the Chinese market with margins ranging from 30.6% to 39.0%.

TWE Reports 34.7% Surge in Penfolds Sales in Asia for FY2024

Treasury Wine Estates (TWE) has reported a 34.7% increase in sales revenue for its flagship brand, Penfolds, in the Asian market for fiscal year 2024, driven by strong growth in Thailand, Hong Kong, and Taiwan, as well as a recovery in mainland China during the fourth quarter.

Penfolds Confirms Plans to Build Vineyard and Winery in China, Location Unclear

Regarding the location selection for Penfolds’ winery in China, Jack Wu, General Manager of Penfolds China, mentioned Ningxia and Yunnan —two regions where Penfolds already collaborates with local wine producers. Wu stated that this move will not only revitalize the company’s brand but also contribute to the economic growth of wine regions like Ningxia and Yunnan.

However, the company did not specify if this means Penfolds will build wineries in both regions or choose one.

Leading Wine Storage Company in Financial Turmoil, Spooking Importers

A prominent wine storage company in China’s southern Guangdong province is at the center of an unfolding crisis, with multiple importers reporting their inability to retrieve wine stocks amid the company’s mounting legal troubles and crippling debts.

Former Hong Kong Leader Calls for Chinese Wine Only for National Day Celebrations

Former Hong Kong Chief Executive Leung Chun-ying has called for all official and private events during National Day celebrations to exclusively serve Chinese wine, emphasizing that not doing so would be “unacceptable and inexplicable.”

China’s Australian Wine Boom Slows: July Imports Dip Amid Signs of Market Plateau

China’s imports of Australian bottled wine continued to surge in July, recording a staggering year-on-year increase in both volume and value. However, the momentum slowed slightly with a 2.49% decrease in value compared to the previous month, showing early signs of a potential plateau following the post-tariff rebound earlier this year.