HKTDC Wine & Spirits Fair boosted by Hong Kong spirits tax break

Published 2024년 10월 31일

Tridge summary

Hong Kong has recently cut its duty rate on imported spirits in order to boost the liquor trade and encourage the development of high value-add industries. This move is particularly beneficial for the Chinese market, including baijiu and wine. The upcoming HKTDC Wine & Spirits Fair, scheduled for November, is expected to see increased participation, with over 600 exhibitors from 20 countries and regions. The event will include conferences, tasting sessions, and seminars, and will be held at the Hong Kong Convention and Exhibition Centre from 7-9 November 2024.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...

Source: Thedrinkbusiness