Budget Speech

Promoting Businesses Related to Wine Trading

85.      Businesses related to wine trading, distribution and auctions have grown considerably since 2008, when the Government scrapped wine duties and launched a series of facilitation measures. After recording an 80 per cent increase in 2008, the total value of wine imports reached $4 billion in 2009, marking a further growth of 41 per cent year-on-year. According to information provided by the industry, Hong Kong has surpassed London to become the second largest wine auction centre in the world. To help the industry better grasp the business opportunities in the Mainland, we have just signed an agreement with the General Administration of Customs to provide facilitation measures for wines exported from Hong Kong to the Mainland. The measures will be implemented on a trial basis in Shenzhen in the second quarter of 2010. We will continue to explore other measures to strengthen Hong Kong's position as a regional wine trading and distribution hub which in turn will help boost employment.

86.      Regarding promotional efforts, the first Wine and Dine Festival held in October last year was well received. The Hong Kong Tourism Board will stage the event again on an even larger scale this year. Building on the success of the last two years, the Hong Kong Trade Development Council will continue to organise the Hong Kong International Wine and Spirits Fair at the end of this year. Vinexpo, a renowned wine and spirits exhibition from France, will also be held in Hong Kong for the fourth time.

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