China wine merchant relocates to Hong Kong
China's largest wine merchant Jointek Fine Wines is planning to relocate its headquarters to Hong Kong to benefit from city's recent waiver of a 40-percent tax on wine and beer. Mainland China has a wine duty of almost 50 percent and so an increasing number of mainland china wine investors are now buying their wines in Hong Kong. Jointek Fine Wines, established in 2000 to import internationally established brands to China, say Hong Kong is also better for transport and logistics. The company hopes to relocate as soon as possible and is currently trying to identify a good site. They also plan to open wine shops to add to the 50 shops they have in Mainland China.