What dose the financial tsunami influence on China wine industry?

With the financial tsunami sweeping the globe, foreign wine merchants are bearing the brunt of sales declining. To cope with the deteriorating situation, will they tap more into China for sales?

In 2007, China wine imports increased in Volume. In the first eight months of 2008, wine imported via Guangzhou rose 43.1% year on year.

Under the current international financial climate, wine industry in many countries was affected by economic recession. In this case, export trade will help them ferry from the crisis. Moreover, the sales of imported wine are increasing rapidly in China. And the growing trend of wine market becomes a big lure to foreign wineries. So during this period of time, it's expected to strengthen the development of China's market.

As a result, China's wine companies will suffer the effects not only from economic tsunami, but also from the crisis' derivatives which were passed to them by foreign wineries. 

Because of the transparency of domestic wine's prices, the benefits which the dealers can get are very clear. While the imported wine do let dealers get great profit. When the profit of imported wines surpasse to some degree by that of domestic ones, some dealers will lose their interest on the domestic wine. All these will have a bad influence on the development of China wine industry.

On one hand, all people have great confidence on the prospect of China wine industry, and the increasing speed of this industry is also very satisfying. On the other hand, facing the pressure of great volume of imported wine, Chinese wine producers should make much greater efforts on every way.