Hong Kong – A world class wine trading and distribution hub in Asia
Hong Kong is Asia's wine trading and distribution hub. Since the elimination of wine duties in February 2008, merchants have seized the opportunity to increase shipments and establish a greater presence in Hong Kong.
• Total imports of wine to Hong Kong in 2013 amounted to US$1.03 billion.
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The U.S. is currently the 3rd largest wine supplier to Hong Kong.
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U.S. wine exports to Hong Kong amounted to US$68.8 million in 2013.
Hong Kong imports of U.S. wine
Hong Kong imports of U.S. wines amounted to US$ 68.8 million in 2013. The U.S. is currently the 3rd largest wine supplier to Hong Kong.
Hong Kong: an ideal place for wine-related business
Hong Kong has removed all wine duties since February 2008. With no Value-Added Tax (VAT) or General Sales Tax (GST), Hong Kong is the first free wine port among major economies.
U.S. and Hong Kong seek to boost American wine sales through Memorandum of Understanding
A Memorandum of Understanding on Cooperation in Wine-related Businesses (MOU) was signed between the U.S. and Hong Kong on May 17, 2010. This has further fostered joint efforts by the U.S. and Hong Kong to promote U.S. wines in Hong Kong, and via Hong Kong, into the massive Mainland China market.
Exciting opportunities:
Auctions, Wine Fairs and Festivals in Hong Kong
Flooded by enthusiastic buyers from around the world particularly Asia, wine auctions have flourished, with record-breaking sales in several occasions. Since 2010, Hong Kong has kept its title as the largest wine auction center in the world. According to Wine Spectator, the total wine auction sales in Hong Kong reached US$ 115 million in 2013.
The Door is Open
Strategically located at the heart of Asia, Hong Kong has built a reputation as a regional business hub – a natural gateway to new economic opportunities in Mainland China and the rest of Asia.
