From the International Edition of HKTDC

10 April 2013

Robert Beynat, Chief Executive of Vinexpo

New data confirms what the plethora of wine businesses pouring into Hong Kong already know: the city is the most mature, most vibrant, wine market in Asia.

The latest International Wine and Spirit Research (IWSR), commissioned by Vinexpo, covers 28 producer countries and 114 wine and spirits markets.

Robert Beynat, Chief Executive of Vinexpo, said that with overall wine and spirits sales of US$142.5 billion in 2011, including US$18.6 billion worth of wine, in the Asia-Pacific, the regional industry is booming.

Wine Trade Nerve Centre

"Hong Kong has set itself up as the nerve centre of the international wine trade in Asia," Mr Beynat said. "China, which has become the leading Asian market in both value and volume, is a priority target."

Mr Beynat announced the findings during his latest visit to Hong Kong last month. "We visit Hong Kong at least twice a year and, of course, more time when we are preparing Vinexpo Asia-Pacific," which takes place every two years in Hong Kong, alternating with Bordeaux, France. "It is very important for us to be here," he said.

Regarded as the widest, most accurate and most detailed body of information on the world's alcoholic beverage market, the IWSR database shows that the mainland became the world's fifth-largest wine consumer in 2010, and has the fastest take-up rate.

With annual per-capita wine consumption of 5.3 litres, Hong Kong has seen its wine consumption double between 2007 and 2011, topping three million nine-litre cases.

 "On average, Hongkongers drink twice as much wine as the Japanese, with 2.7 litres per person per year, and the Singaporeans, whose annual per capita consumption is 2.3 litres. Hongkongers predominantly prefer red wine, which accounts for 82.5 per cent of all wine consumed in the city. But they are also open to sparkling wines, which represent 3.6 per cent of total consumption. Hongkongers drink twice the Asian average of sparkling wine."

March 11, 2013

About 125 of our members and invited guests were assembled at the Grand Hotel on Monday March 11 to celebrate "The year of the Snake".

They listened to presentations of the advantages of being established in Hong Kong from speakers of Hong Kong Economic and Trade Office, the Hong Kong Trade Development Council, The Norwegian Ministry of Trade and Industry, Posten/Bring AS and dr. Derek Anthony of Norway Chamber of Commerce, Hong Kong. Dr. Anthony is also a first class opera singer and gave the audience a fantastic performance in Chinese, Italian and Norwegian arias and classical songs.

At the reception afterwards the Grand Hotel chef presented a number of delicious Chinese inspired dishes on the buffet table.

From the International Edition of HKTDC

13 March 2013

Hong Kong attracted a record number of new businesses in 2012, a sign of SME confidenceBusiness continues to view Hong Kong with confidence, according to the latest Grant Thornton International Business Report. The research reveals that nearly two-thirds of Hong Kong SMEs would not relocate offshore, even if a lower corporate tax rate was offered elsewhere.

Underscoring the city's effectiveness as a place to do business, Hong Kong also continues to lead Ernst & Young's annual Globalization Index, ranking first among the world's 60 largest economies for the third consecutive year.

The Grant Thornton data, conducted last November and December, is based on interviews with CEOs, managing directors, chairmen and other senior executives in 3,400 companies from all industry sectors across the globe.

"The IBR reveals that 64 per cent of businesses in Hong Kong would not consider moving their headquarters, no matter how much lower the corporate tax rate is in another country," said William Chan, Tax Partner at Grant Thornton Hong Kong. This, he said, is "a strong sign that Hong Kong, a global business city with a multicultural environment, is still regarded as one of the best locations for businesses."