Wine authorities explain Chinese market (US)
As a Far East nation of 1.3 billion people grows wealthier, many of its residents are gaining an appreciation for fine wine. That thought has sales staff in Bordeaux, Adelaide and St. Helena licking their chops, but there may not be as many wine lovers in China as some suppose. Tom Selfridge, a wine industry consultant and retired president of Hess Collection, currently is consulting for a vineyard development project in China. Selfridge said the potential for wine in China is huge, but if sellers look at how many people are actually buying varietal wines at premium prices, the market is still smaller than that of the United States, reports Wines & Vines.