Chinese red wine sees growing competition from foreign labels

BEIJINGOct. 11 -
China's homegrown red wine faces bitter competition as foreignbrands catch up in luring domestic consumers.
A report released Friday showed decreasing sales of domestic red winewhich stood at40.8 billion yuan (6.64 billion U.Sdollarsin 2013, a year-on-year drop of 8.52 percent.
Total sales volume of imported red wine dropped by 1 percent to 9.68 billion yuan last yearor about 20 percent of the Chinese marketand is still growingaccording to the Fortune Character Institute (FCI), the luxury research and consulting agency that compiled the........ read more 

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