Page 28 - Sphere No.22 (Aug 2008)

THE DECISION to abolish all tax on wine is pav-
ing the way for Hong Kong to become the wine
trading and distribution centre of Asia. The indi-
cations are that significant progress has already
been made; between February 27 and mid-April,
imports were up 78 per cent in terms of quantity
and 215 per cent in value.
What’s more, the 2008 Vinexpo Asia Pacific
wine and spirits trade fair broke all records for
exhibitor numbers and visitor attendance. And
in August, the Hong Kong Trade Development
Council is holding the inaugural Hong Kong Inter-
nationalWine Expo.
In April, Bonham’s conducted the first wine
auction held in Hong Kong for 10 years, realis-
ing HKD11.5 million (USD1.47 million) from 246
lots. On May 31,Acker Merrall & Condit held the
biggest ever wine auction in Asia, with 922 lots
realising HKD64 million.
PHOTO: KAY YUEN
ASIA’S BUDDING WINE HUB