Chinese Buyers Head To Beleaguered French Chateaux#
As Chinese companies and wealthy investors continue to buy Bordeaux châteaux — roughly 20 have found new Chinese owners in the last four years — and the popularity of Bordeaux reds among Chinese wine drinkers stays high, China’s presence in the famed wine-growing region is becoming ever larger. Over the last few years, Chinese investors have been on the hunt for vineyards around the world, looking to secure a steady supply of high-quality raw materials while boosting the legitimacy of their wine-making businesses among the country's burgeoning oenophiles. While industry giants like COFCO have their sights set on vineyards in Chile, Australia and the United States, perhaps nowhere is the Chinese presence more pronounced at the moment than Bordeaux. With China surpassing Germany and the UK to become the Bordeaux’s largest export market, and Bordeaux mainstays like Château Lafite, Château Latour and (increasingly) Château d’Yquem becoming the bottles of choice for Chinese collectors, gift givers and show-offs alike, it’s no surprise Chinese buyers have swept into the region.
This week, Bloomberg looks at the growing interest not only in French wine, but in French wineries, among China's aspiring aficionado: