Chinese got an interest in Napa wineries

Chinese interest in Napa wineries is taking hold as trade ties between the U.S. and China deepen. Interest is so strong that California real estate agent Steven Rea recently set up an agency, The Reserve Group, to serve Asian clients, especially those from China and Hong Kong.

Chinese investors have long been keen to put money into natural resources and real estate projects. "Now, they invest their money in expensive wines," says Hua Ming, a Chinese-American with a minority stake in Silenus of Napa Vallley. His partner, a Chinese investor from Henan Province in China, owns a majority stake.

"They have the money, and they're breaking all the records at the wine auctions," Rea says. "My feeling is that if you're spending half a million on wine bottles, wouldn't you love to own your own vineyard or winery?"