According to figures released by Wine Australia, China bought $520 million worth of Australian wine in the 2016 calendar year, up 40 per cent.

It is now $62 million clear of our second biggest export market, the United States, which bought $458 million.

To put the rapid rate of growth in the China market in context, about a decade ago China imported about $27 million worth of Australian wine.

As well as growing sales, Australian wine also grew market share in China by 1 per cent to 24 per cent.

“Expansion of the Chinese middle class has driven increased demand for wines in the entry level and commercial wine price segments,’’ Wine Australia’s Export Report says.

“However, this growth was outpaced by the upper price segments. As fast as the

middle class is growing, mainland China’s ultra-wealthy numbers are growing at a faster rate. “According to wealth research firm Hurun, ‘China’s billionaire population first surpassed the US in August 2016 and Beijing has also passed New York as the billionaire capital of the world’.

“These wealthy Chinese consumers are demanding the world’s finest wines and Australia’s wineries are taking advantage of this trend.’’

Once the rest of northeast Asia is included, the region accounts for almost a third of Australian wine exports, which hit a record $2.2 billion, up 7 per cent, in 2016. Northeast Asian exports were $707 million, up 23 per cent.

Read more at source: The Advertiser