China-Australia FTA Promotes Australian Wine Exports to China to Rise Significantly

Recently, the Australian Wine Bureau released its export report saying that Australia has become the world's fifth largest wine exporter after France, Italy, Spain and Chile. Thanks to the implementation of the China-Australia Free Trade Agreement, mainland China has become the largest export market for Australian wines and Australia has become the second largest source of wine imports in mainland China.

According to statistics, in the fiscal year of 2016-2017, Australia exported 60 million Australian dollars of wine to mainland China, a substantial increase of 44% year-on-year, accounting for 26.3% of total Australian wine exports. Mainland China has now become Australia's most valuable wine export market; secondly The United States (466 million Australian dollars), the United Kingdom (341 million Australian dollars), Canada (186 million Australian dollars) and Hong Kong (114 million Australian dollars). Among them, Australia's wine exports to Hong Kong continued to decline, 8% decline over the previous year's 16% stabilized, reflecting the development of direct trade channels, Hong Kong's "transit" role continues to weaken.

In terms of exports, Australia accounts for 24% of China's imported red wine, second only to France's 41%.