The Hong Kong Special Administrative Region (HKSAR) government announced Thursday that wine re-exported from Hong Kong will enjoy instant customs clearance in all districts of the Chinese mainland from Nov. 9 onwards.
This extension of customs facilitation measures is introduced to support international wine traders in tapping Chinese mainland market and strengthen Hong Kong's position as Asia's wine hub, a spokesman for the Commerce and Economic Development Bureau of the HKSAR government said.
The 10th Hong Kong International Wine & Spirits Fair organized by the Hong Kong Trade Development Council (HKTDC) opened here Thursday and will continue through Nov. 11 at the Hong Kong Convention and Exhibition Centre.
This year's wine and spirits fair displayed fine wine and spirits brought by 1,070 exhibitors from 38 countries and regions, including new exhibitors from Malaysia, Mauritius, Romania, Serbia and Ukraine, reaching a record high during the past decade.
Chan Mo-po, financial secretary of the HKSAR government said at the opening ceremony that Hong Kong wine trade seems to have a good prospect for growth, considering the mainland as the biggest market for wine re-exported from Hong Kong.
Hong Kong is growing into a leading wine hub as it is perfectly positioned to connect international producers and suppliers with Asian investors, distributors and consumers.
Executive Director of the HKTDC, Margaret Fong, said: "Now more than ever, Hong Kong enjoys an incomparable advantage as Asia's gateway for the global wine industry."
According to Euromonitor International forecasts, wine sales in Asia will see an annual growth rate of 8.5 percent from 2016 to 2021.
Michael Partridge, export manager of Petersons Wines, an exhibitor from Australia, said that most of the exhibitors at the wine fair are looking for channels of distribution in Asian market.
"It is all about tipping our toes to see what is out there, which is why we are here," he said.