Italian experts see Chinese wine market growing in demand

China's wine market has continued to grow at a steady pace in the first nine months of 2016, doing better than other major markets at global level, according to an Italian report.

Overall, it was expected to reach a "20 percent increase in foreign wine imports by the end of the year," said the report.

The report was carried out by the Wine Monitor of Bologna-based Nomisma economic institute, in cooperation with the Observatory on foreign markets of consultant company Business Strategies, and was unveiled earlier this month.

Compared to the steady performance of China, other major markets looked in less good shape.

"After year 2015, in which global wine imports grew by more than 10 percent in value, our estimate on wine purchases in the world's first eight markets --accounting for almost two-thirds of imports worldwide -- does not seem to show the same positive results," the report said.

Considering trends in the 2016 first three quarters, Nomisma analysts forecast, by the end of the year, a less than two percent annual import increase in the United States, a nine percent decrease in Britain, a four percent decrease in Germany, and an almost three percent growth in Japan.

Only China "will keep running at a fast pace," the report stressed. Endite