Golden Dragon Holdings expands wine imports

Golden Dragon Holdings has entered into agreements with eight wineries from Spain, Italy and France in a bid to expand its China  wine imports.

Under the terms of the agreements Golden Dragon will have import rights for each brand. The company said today (23 July) that it will commence preparations for the trademark registration and labelling registration procedures required by the country.

"Understanding the consumption of wine in China, coupled with excellent wine we offer at moderate pricing for the consumer, positions the company for rapid growth in this segment," said Cesar Cuenca, president of Golden Dragon. "The company has developed a unique business model to distribute the wines to local restaurants and hotels in Beijing, and with the proper resources has the potential for exponential growth."

China has more than 400 commercially viable domestic wineries, the company said, while the value of wine imports to China is expected to reach US$870m by 2017, up almost fivefold from US$184m in 2007.