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| No.9 December, 2009 |
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Wine imports up 41% |
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 Hong Kong’s position as a regional wine trading hub has been further boosted with a massive jump in wine imports.
Secretary for Commerce & Economic Development Rita Lau revealed a 41 per cent increase in wine imports over the first nine months of 2009, worth HK$2.71 billion (A$387 million), compared to the same period in 2008.
Ms Lau said the rise was a direct result of the abolition of wine import duty and the government's continued efforts to support the wine trade.
The exemption has also brought economic benefits through the tourism, catering and hospitality, exhibitions and brand promotion industries, bringing new job opportunities.
Fourteen wine auctions have been held in the city so far this year, with aggregate sales amounting to HK$496 million (A$70.9 million). In terms of total sales value, the industry is forecasting Hong Kong should surpass London this year to become the second largest wine auction centre in the world after New York City.
The Government is helping the industry develop, in partnership with the Hong Kong Quality Assurance Agency, a certification scheme whereby wine storage facilities meeting certain required standards will be accredited.
"The scheme is expected to be launched before the end of the year. It will first cover wine storage facilities, with possible extension to other logistics facilities such as vehicles later," Mrs Lau said, adding the Government is working on various fronts to enhance the further development of Hong Kong as a regional hub for wine trading and distribution.
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