Asia\\\'s largest wine expo opens in HK

HONG KONG, May 27 (AFP): Asia's biggest wine and spirits fair opened in Hong Kong on Tuesday, drawing the world's top producers from France to Chile despite China reporting the first decline in wine consumption for a decade.
According to a survey by Vinexpo Asia Pacific, mainland China's wine consumption fell by 2.5 per cent last year, after ten years of uninterrupted growth at a rate of 25 per cent per year.
The drop comes as Beijng reins in luxury spending and extravagant banquets, against the backdrop of a slower economy, and an anti-graft campaign backed by President Xi Jinping to root out official corruption.
However, show organisers, who expanded the trade fair by 50 per cent in floor space from its last edition in 2012, are adamant there are still strong opportunities for the wine and spirits markets in the region, because of increased demand from a growing middle class.
Winemakers and industry executives also say that the economic slowdown will not prevent people from drinking, but the focus may now shift to mid-range wine and spirits.
"This is the largest Vinexpo Asia Pacific ever. The markets of South East Asia and China are still booming," Vinexpo chief executive officer Guillaume Deglise said.
"There are many markets in Asia where the middle class is expanding and this represents a great potential for the wine and spirits industry," he said.
Xavier de Eizaguirre, chairman of Vinexpo, added: "Little did we know two decades [ago] Asia led by China and Japan would reach 63 per cent of world's spirits consumption."