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Aussie wine companies making big gains in China

Xinhua, January 27, 2017 Adjust font size:

Australian wine industry body, Wine Australia, released figures on Friday showing wine exports from Australia climbed by 7 percent in 2016, with 40 percent growth over the same period to mainland China.

The 520 million Australian dollar wine industry from Australia to China is being spearheaded by Treasury Wines, with their high-end labels, Penfolds and Wolf Blass, doing exceedingly well.

Wine Australia chief executive Andreas Clark said the growth to China was driven by the burgeoning middle class within the Asian nation, leading to an "exceptional" market for wine imports.

Treasury Wines has been aggressively targeting the Chinese market, and is expected to post strong results when they release their first half financial figures for 2016/17, in February. Endit