Lafite releases first Chinese wine, as local producers struggle
China is the world's 6 largest producer of wine, yet the image has been for cheapish wines with a shrinking domestic market reacting to international competition. Into this, Lafite is releasing its first Chinese wine from Domaine de Penglai.
With all the noise coming from behind the Great Wall, it would appear that Chinese wine industry is in rude health. However, since 2013, the country's production has dropped for four consecutive years as demand for imported wines has risen.
But there may still be room for Lafite since 20% of all wine sells for over 100RMB or £11.40/bottle which is significantly higher than the UK average. With many Chinese producers trying to fill the gap for premium Chinese wines there is still plenty of room for top producers.