The opening ceremony of the Xiamen International Wine Exchange, a multi-functional international wine platform, is held on Sept 12. [Photo/ fjsen.com]
A new wine trade center opened in Xiamen on Sept 12, which aims to turn the coastal city in Fujian province into the largest center for imported wine in China within five years.
The Xiamen International Wine Exchange (XIWE) is a sprawling 5,900-square-meter complex that houses wine exhibition, trading, tasting and training facilities.
Located in the Xiamen Area of the China (Fujian) Pilot Free Trade Zone, the project is the brainchild of the FTZ's administrative center and Xiamen C&D Corporation, a leading local industrial and investment group.
Special guests attend the inauguration of the Xiamen International Wine Exchange on Sept 12. [Photo/ fjsen.com]
The center is designed to uncork the potential in Xiamen's wine import market.
Xiamen has a long history as a supplier of international booze for the Chinese market. The coastal city was one of the first ports in China to begin importing wine, and it currently China's third largest trade hub for wine.
It is also the largest importer of beer in the country, processing 108 million liters of imported beer in the first half of 2017 alone, according to government statistics.
The XIWE aims to become a high-quality provincial-level platform for imported wine in the next two years and a nation-leading one within five years, according to Wang Qin, the center's general manager.
The center will be helped by strong support from the FTZ. The zone's preferential policies and competitiveness in finance, e-commerce and customs clearance will give the XIWE an advantage over its rivals, said Lin Shuxi, an official from the FTZ's administrative center.
The XIWE is targeting the medium and high-end market and will bring in competitive wine brands to boost its profile, claimed Ye Yanliu, director of the new center.
The first phase of the complex has already been occupied. Wu Yonglei, general manager of a company registered in the XIWE, spoke highly of the platform, saying its establishment can help bring order to the imported wine industry.
China has launched a new pilot program to allow eligible enterprises greater access to overseas financing in support of green and low-carbon transformation projects, the country's foreign exchange regulator said on Aug 21.
To further streamline the experience, China is expanding tax refund stores, broadening the range of refundable goods, and refining refund procedures, ensuring an efficient and seamless shopping experience for global visitors.
