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HKTDC Wine & Spirits Fair boosted by Hong Kong spirits tax break
Hong Kong’s recent landmark duty cut for imported spirits is a cause for celebration for many, not least the HKTDC Wine & Spirits Fair, taking place in November.
Hong Kong has significantly reduced its spirits duty rate, announced during the policy address this month, to promote liquor trade and boost the development of high value-added industries.
Coming just weeks after the announcement, the Wine & Spirits Fair aims to enable the industry to seize opportunities presented by this measure. Sophia Chong, deputy executive director of the Hong Kong Trade Development Council (HKTDC), said: “The market for Chinese baijiu and wine is thriving, especially following the recent proposal by the Hong Kong SAR Government to reduce taxes for high-end liquor.”
This year’s fair brings together more than 600 exhibitors from 20 countries and regions, with a notable increase in those showcasing Chinese baijiu and spirits around the world.
Overall, participation from Mainland China has increased by 60% by scale compared to the previous year.
“The HKTDC is actively recruiting more buyers to take part in the Fair, further promoting Hong Kong as a regional trading hub for wine and spirits,” Chong said.
In addition to exhibitors from Hong Kong and the Mainland China, there are overseas exhibitors from all over the world, including those from Belarus, the Czech Republic, Denmark, France, Germany, Ireland, Italy, Poland, and the United Kingdom from Europe.
Exhibitors from the Americas included Argentina, Canada, Chile, Mexico and the United States. Australia, Japan and the Philippines make up the Asia-Pacific representation, while South Africa will participate for the first time.
The Wine & Spirits Fair also features the Friends of Wine zone, which showcases a variety of foods designed to complement the wines. Conferences, tasting sessions and seminars hosted by world-class Masters of Wine, sommeliers and industry professionals, will analyse trends in various markets, while offering attendees an opportunity to sample fine wines from around the world.
The 16th Hong Kong International Wine & Spirits Fair is taking place at the Hong Kong Convention and Exhibition Centre (HKCEC) from 7-9 November 2024.
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