Can Hong Kong Uncork Trading Of Wine In China?
As the global wine industry converges here this week to crack open the mainland Chinese market, this city is touting its prospects as a regional nexus for trade in wine.
On Wednesday, Hong Kong officially zeroed out its taxes on wine, and on Saturday morning the city will host a US$6.5 million auction of vintages, billed as the largest ever in Asia. Local importers, meanwhile, are scrambling to secure warehouse space for more bottles or, in some cases, build their own cellars.
'We already have the world-class infrastructure, logistics, financial and communication systems required and, more importantly, the discerning palate and ample appetite to become a wine trading and distribution center in Asia,' said Henry Tang, Hong Kong's chief secretary, Tuesday at the opening of Vinexpo, a wine exhibition that splits its annual gatherings between the French region of Bordeaux and cities such as New York and Hong Kong. There are 692 exhibitors from 32 countries at the Hong Kong expo this year.
Since the government announced its plan to slash duties on the import of wine from 40% to zero in its annual budget two months ago, wine imports have more than doubled by volume and more than tripled by value from a year earlier, said Mr. Tang.
Kevin Tang (no relation to Henry Tang), managing director of Hong Kong-based distributor Concord Wines, is wasting no time taking advantage of the new playing field.
He already has more than 70,000 bottles of wine stored in Hong Kong for the local market, but within six months, he says, he will build his own temperature- and humidity-controlled cellar right by Hong Kong's main port -- a move he says would cut costs and allow his company to 'shift to a regional business.' Restaurants, clubhouses and hotels in Hong Kong have been his main market, but Mr. Tang says 30% of his sales will come from neighbors like Taiwan, South Korea, Singapore and mainland China by the end of the year.
'Having the wine here really cuts down the shipping time,' says Mr. Tang's sales manager, Francis Luk. 'Before, if someone ordered a wine from France, it would take two months to get here. From here, we can fill an order in a few days.'
A number of importers and merchants scouring Vinexpo shrugged their shoulders at the new measures. Hong Kong, while affluent, is a small market next to juicier prizes like mainland China, where conference organizer Vinexpo Overseas expects 13% growth a year in wine consumption over the next five years. China is the 10th-largest wine-consuming nation in the world, according to a 2008 study conducted partly by Vinexpo, accounting for 62.7% of all the wine consumed -- or 658 million bottles -- in Asia in 2006.
'If I'm trying to get into the China market, why would I ship my wine to Hong Kong and pay for storage here when I could just go straight to the destination?' says Ken Chan of Phi Cargo Services, a Hong Kong shipping company that works with wine importers. The company has operations in mainland China.
'I think everyone likes to position Hong Kong as a springboard into China, but the reality is, if you want to do business in China, you have to do business in China -- there is no substitute,' says Simon Tam, a winemaker who has run popular wine-education programs in Hong Kong for nearly two decades.
And Hong Kong, while moving to slash taxes, still lacks the high-tech storage facilities that have made London and New York top-flight wine destinations. 'You can't just say, 'I'm the wine hub,' and that's it,' says Robert Beynat, chief executive of Vinexpo Overseas.
Still, in an interview this week, Mr. Beynat praised Hong Kong as 'a natural hub' for the industry in Asia. 'It's right in the middle of the map, whether you're talking about Singapore, Beijing, Shanghai or Tokyo,' he says. Among Hong Kong's other advantages, he says: an abundance of tycoons, world-class hotels, wine knowledge and now, a tax-free environment.
Tom Sherwood, marketing manager at the Hong Kong office of British wine merchants Farr Vintners, says there was a 'huge, huge spike' in orders after the government's decision to end the wine tax, keeping his staff in the office until after midnight for two weeks.
'It's the concentration of the companies, the talent, the people working in the industry,' Mr. Sherwood says. 'If they're based here, this is where the business is going to be done. Hong Kong is next to the mainland and to Macau, in a convenient central location, with a strong history as a shipping port, and now the tax situation. . . . If you want to sell, or if you want to buy, you're going to have to come to Hong Kong.'
Winemaker Mr. Tam acknowledges the obstacles but sees a key role for Hong Kong as a tastemaker and example for China and the rest of Asia.
'I can envision in three years Hong Kong being a dream place for the industry, with a lot of personalities and authorities and knowledge,' he says. 'That's a model for China to perhaps tear apart and reconfigure.'
On Wednesday, Hong Kong officially zeroed out its taxes on wine, and on Saturday morning the city will host a US$6.5 million auction of vintages, billed as the largest ever in Asia. Local importers, meanwhile, are scrambling to secure warehouse space for more bottles or, in some cases, build their own cellars.
'We already have the world-class infrastructure, logistics, financial and communication systems required and, more importantly, the discerning palate and ample appetite to become a wine trading and distribution center in Asia,' said Henry Tang, Hong Kong's chief secretary, Tuesday at the opening of Vinexpo, a wine exhibition that splits its annual gatherings between the French region of Bordeaux and cities such as New York and Hong Kong. There are 692 exhibitors from 32 countries at the Hong Kong expo this year.
Since the government announced its plan to slash duties on the import of wine from 40% to zero in its annual budget two months ago, wine imports have more than doubled by volume and more than tripled by value from a year earlier, said Mr. Tang.
Kevin Tang (no relation to Henry Tang), managing director of Hong Kong-based distributor Concord Wines, is wasting no time taking advantage of the new playing field.
He already has more than 70,000 bottles of wine stored in Hong Kong for the local market, but within six months, he says, he will build his own temperature- and humidity-controlled cellar right by Hong Kong's main port -- a move he says would cut costs and allow his company to 'shift to a regional business.' Restaurants, clubhouses and hotels in Hong Kong have been his main market, but Mr. Tang says 30% of his sales will come from neighbors like Taiwan, South Korea, Singapore and mainland China by the end of the year.
'Having the wine here really cuts down the shipping time,' says Mr. Tang's sales manager, Francis Luk. 'Before, if someone ordered a wine from France, it would take two months to get here. From here, we can fill an order in a few days.'
A number of importers and merchants scouring Vinexpo shrugged their shoulders at the new measures. Hong Kong, while affluent, is a small market next to juicier prizes like mainland China, where conference organizer Vinexpo Overseas expects 13% growth a year in wine consumption over the next five years. China is the 10th-largest wine-consuming nation in the world, according to a 2008 study conducted partly by Vinexpo, accounting for 62.7% of all the wine consumed -- or 658 million bottles -- in Asia in 2006.
'If I'm trying to get into the China market, why would I ship my wine to Hong Kong and pay for storage here when I could just go straight to the destination?' says Ken Chan of Phi Cargo Services, a Hong Kong shipping company that works with wine importers. The company has operations in mainland China.
'I think everyone likes to position Hong Kong as a springboard into China, but the reality is, if you want to do business in China, you have to do business in China -- there is no substitute,' says Simon Tam, a winemaker who has run popular wine-education programs in Hong Kong for nearly two decades.
And Hong Kong, while moving to slash taxes, still lacks the high-tech storage facilities that have made London and New York top-flight wine destinations. 'You can't just say, 'I'm the wine hub,' and that's it,' says Robert Beynat, chief executive of Vinexpo Overseas.
Still, in an interview this week, Mr. Beynat praised Hong Kong as 'a natural hub' for the industry in Asia. 'It's right in the middle of the map, whether you're talking about Singapore, Beijing, Shanghai or Tokyo,' he says. Among Hong Kong's other advantages, he says: an abundance of tycoons, world-class hotels, wine knowledge and now, a tax-free environment.
Tom Sherwood, marketing manager at the Hong Kong office of British wine merchants Farr Vintners, says there was a 'huge, huge spike' in orders after the government's decision to end the wine tax, keeping his staff in the office until after midnight for two weeks.
'It's the concentration of the companies, the talent, the people working in the industry,' Mr. Sherwood says. 'If they're based here, this is where the business is going to be done. Hong Kong is next to the mainland and to Macau, in a convenient central location, with a strong history as a shipping port, and now the tax situation. . . . If you want to sell, or if you want to buy, you're going to have to come to Hong Kong.'
Winemaker Mr. Tam acknowledges the obstacles but sees a key role for Hong Kong as a tastemaker and example for China and the rest of Asia.
'I can envision in three years Hong Kong being a dream place for the industry, with a lot of personalities and authorities and knowledge,' he says. 'That's a model for China to perhaps tear apart and reconfigure.'
香港志在成為亞洲紅酒貿易中心
全
球紅酒行業本週齊聚香港﹐意在打開中國大陸市場。借助這一東風﹐香港提出了構建地區紅酒貿易樞紐的藍圖。香港政府週三正式取消紅酒關稅。週六上午﹐當地將舉行一場價值650萬美元的紅酒拍賣會﹐規模之大堪稱亞洲之最。與此同時﹐本地進口商紛紛尋找酒倉以擴大庫存﹐或是建造自己的酒窖。
Reuters
一名男子在品嘗參展的紅酒
唐英年表示﹐自從兩個月前香港政府在年度預算中宣佈計劃將紅酒進口稅從40%下調至零以來﹐紅酒進口量已經較上年同期增長一倍有餘﹐進口額更是增長兩倍以上。
面臨著出現的新機遇﹐香港酒類經銷商協和洋酒(Concord Wines)的董事總經理鄧國傑(Kevin Tang)迅疾抓住了這一商機。
鄧 國傑說﹐他已經在香港擁有超過70,000瓶紅酒的存放量﹐供應本地市場﹔但他表示﹐未來六個月內將在香港主要碼頭附近建造自己的恆溫恆濕酒窖﹐此舉有助 於削減成本﹐推動公司轉向地區性業務。鄧國傑介紹說﹐香港的餐館、俱樂部與酒店構成了公司的主要市場﹐但到今年年底時﹐公司將有30%的銷售額來自台灣、 韓國、新加坡以及中國大陸等周邊地區。
鄧國傑的銷售經理陸偉豪(Francis Luk)說﹐在本地存放紅酒的確節約了運輸時間。“以前如果有人從法國訂購紅酒﹐可能需要兩個月的時間才能到貨。但如果在本地建立庫存﹐我們可以在幾天時間內交貨。”
眾多參加展會的進口商與經銷商並不認為港府取消紅酒關稅之舉能收到多大實惠。儘管香港經濟富庶﹐但本地市場與巨大的大陸市場相比依然相形見絀。展會主辦機 構Vinexpo Overseas預計﹐未來五年大陸紅酒消費量將以每年13%的速度迅猛增長。Vinexpo今年參與進行的一項研究顯示﹐2006年中國是全球第十大紅 酒消費國﹐佔當年亞洲消費總量（約6.58億瓶）的62.7%。
Phi Cargo Services的陳國新(Ken Chan)表示﹐“我想打入大陸市場﹐那麼如果我可以直接運抵目的地的話﹐我為什麼還要將紅酒運到香港並花上一筆存儲費呢﹖”Phi Cargo是一家香港船運公司﹐與紅酒進口商有業務往來﹐在中國大陸也有業務。
釀酒商Simon Tam表示﹐他認為每個人都把香港定位成進入大陸市場的跳板﹐但現實是﹐如果你想在大陸作生意﹐那麼你就得去大陸﹔這其中並沒有替代。他在香港從事頗受歡迎的紅酒教育項目已經有將近20年時間。
Vinexpo Overseas的行政總裁羅伯特•貝納特(Robert Beynat)指出﹐儘管香港取消了紅酒關稅﹐但這裡仍然缺乏使倫敦與紐約成為頂級紅酒目的地的高科技存儲設施。他說﹐僅有雄心壯志是無法成為紅酒貿易中心的。
但本週接受採訪時﹐貝納特稱贊香港是亞洲紅酒貿易的“天然樞紐”。他表示﹐無論你說到新加坡、北京、上海還是東京﹐香港正好位於這一地區的中心。他說﹐香港還有其他方面的優勢﹕富豪雲集、頂級酒店以及品酒知識﹐現在更是擁有免稅的有利環境。
英國酒商Farr Vintners駐香港辦事處的營銷經理湯姆•舍伍德(Tom Sherwood)表示﹐政府決定取消紅酒關稅後﹐公司的紅酒訂單出現了非常巨大的增長﹐他和同事不得不連續兩週加班到深夜。
舍 伍德說﹐成為紅酒貿易中心需要聚集諸多公司、相關人才以及從業人員。他說﹐如果齊聚這三個條件﹐那麼香港就會成為行業貿易中心。香港毗鄰大陸與澳門﹐處在 便利的中心位置﹐擁有海運港口的雄厚實力與悠久歷史﹐現在又獲得了免稅的便利條件。如果你打算銷售或是購買紅酒﹐那麼你總會來香港作生意。
Simon Tam承認香港還存在差距與困難﹐但他認為﹐香港是大陸與亞洲其他地區的潮流與時尚前沿﹐擁有重要的地位。
他表示﹐可以想像三年內香港將成為紅酒行業的夢幻中心﹐擁有諸多名人、權威與知識﹔香港將成為中國大陸可能的效仿對象與發展目標。
Jonathan Cheng
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