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The combined markets of China and Hong Kong have become Bordeaux' most important export destination during the last year. The local wine board CIVB just communicated having reached a volume of sales of about 333 million Euros, while insiders reckon that about 80 % of the wine delivered to Hong Kong is finishing in mainland China anyway. In both markets the growth rates were considerable (China + 98 %, Hong Kong + 126 %) which largely contributed to the fact that Bordeaux overall exports were again growing by 10 %, after the economic crisis, totalling 1.39 billion Euros.

In spite of this growth, Germany remains the biggest volume importer of Bordeaux wines. With its total of 34 million bottles it still ranks slightly ahead of the combined Chinese markets, but observers believe that Germany could soon be overtaken by them. Most of the wine going to Germany is sold at the lowest price level anyway.

In the meantime the Bordeaux trade in China itself becomes growingly bizarre. In the People's Republic prices of up to 300 Euros are paid for empty bottles with prestige labels - obviously not a phenomenon due to bottle-collectors but of conterfeiters who wish to take advantage of the current price level of up to 3.000 Euros a bottle and much more in the case of old vintages.

At the same time insiders fear that the price bubble might burst in a near future as real wine collectors are more and more supplanted by pure speculators. If this speculation will still please producers and the trade once the bubble exploded, remains doubtful.