China rise as a major consumer of fine wine

If there’s one remarkable alteration to the international landscape of drinks, it is the rise of China as a major consumer of luxury brands.

The nation’s desire for upmarket spirits has grown at a remarkable rate, but more extraordinary is its sudden and massive demand for fine wine - above all the most expensive labels from Bordeaux, in particular Lafite.

This trend, exacerbated by the abolition of import tax on wine in Hong Kong in February 2008, has kept London’s leading fine wine merchants buoyant during even the depths of the recession while forcing prices up for the top chateaux in Bordeaux.