THE CHINESE GOVERNMENT IS MAKING BIGGER CUTS THAN EUROPE AND BORDEAUX WINES, THE MOST LOVED BY BEIJING HEIRARCHY, ARE SUFFERING. IN 2013, ACCORDING TO OFFICIAL CIVB FIGURES, EXPORTS TO CHINA DROPPED 16% IN VOLUME AND 18% IN VALUE

As far as spending review is concerned, China is way beyond the Old World and among the many cuts the leadership of the Communist Party in Beijing has endured, there is also buying luxury goods, which greatly influenced the fall of Bordeaux wine exports to China in 2013.
The official figures of the CIVB - Conseil Interprofessionnel du Vin de Bordeaux - speak of 16% fall in volume and 18% in value compared to 2012, with an overall loss of 60 million euros. Nevertheless, China and Hong Kong still represent 23% of the market for the most important French wine region and China remains the world's largest importer in volume, second in value only to Britain. Bernard Farges, director of the CIVB, however, is not too worried about the slowdown. He explained to the British magazine "Decanter" that it is essentially due to "political choices, which have little to do with market dynamics.
Moreover, if exports to Beijing have decreased, direct sales to customers in China have reached new heights: 20% of our total direct sales, considering the average for Chinese customers usually does not go beyond 5 or 6%”.
Even price adjustments that are on average smaller and more representative of the real trend of the market, “is not bad news. In 2009 and 2010”, continued Farges, “some prices were made exclusively for the Chinese market, because it was the only one willing to pay. Sure, losing market shares is always a worry, but this realignment can bring long-term stability, which is a good thing”. Especially for a denomination that sold 4.24 billion euros in 2013 – 1.4% less than in 2012, with a significant decrease of total exports (6% less in value and 2% less in volume), but overall it is still a solid and healthy economy.