Hong Kong’s liquor tax cut boosts interest in high-end products at wine and spirits fair Hong Kong’s recent tax cut on liquor has generated more interest in high-end alcoholic products, according to some merchants at the city’s annual wine and spirits expo. The Hong Kong International Wine and Spirits Fair launched on Thursday, with the three-day event at the Convention and Exhibition Centre in Wan Chai bringing together more than 600 exhibitors from 20 countries and regions. John Rhodes, director of Hong Kong-based Scotch whisky seller Jon Dory, said the event allowed him and other exhibitors to connect with more buyers from around the world. “I can tell you instantly that it’s busier on the first day compared with last year,” he said. “We have got someone from Indonesia, and Singapore, asking about bottlings and whiskeys, and some of what we carry. So it feeds in, like when we are launching our own brand.” The merchant noted his wares included products ranging in price from HK$600 (US$77) to HK$270,000. “We have eventually got a little bit more interest and a lot more interesting avenues of possible business with people here,” Rhodes said. Gareth McAlister, founder of the Ireland-based Ahascragh Distillery, said the government’s slashing of liquor tax rates had also encouraged him and other merchants to showcase a wider selection of high-end spirits. The policy was announced by Chief Executive John Lee Ka-chiu last month and cut the levy for liquor products with an import price of more than HK$200 from 100 per cent to 10 per cent. “Consumers in Hong Kong have a more sophisticated taste and appreciation for wine and spirits. Were it not for the tax cut, we would not be bringing these high-end whiskeys and gins,” McAlister said. “It’s a great opportunity to bring awareness to those fine products.” The spirits on display at the event ranged from mainland Chinese-made baijiu such as Guizhou Mao-tai, Xi Jiu and Zhenjiu to whiskies hailing from Scotland, Ireland and the Czech Republic, as well as tequilas from Mexico and gins and brandies from Japan. Tomy Wu Kwong-yi, co-founder of MyiCellar, which sells Guizhou’s Zhen Sauce Aroma baijiu, said such events offered an opportunity to promote the uniqueness of the Chinese beverage. “There are a lot of quality Chinese baijiu, not just the famously known Mao-tai. Our products range from HK$600 to HK$3,000, and we hope to get in touch with more potential buyers and distributors not only for our business, but also to expand our market to more countries,” he said. The first two days of the fair are exclusively open to industry professionals. The rest of the public aged 18 and above can visit the event on Saturday. Tickets are priced at HK$200, but can go for HK$99 when bought through a dedicated online platform. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3285588/hong-kongs-liquor-tax-cut-boosts-interest-high-end-products-wine-and-spirits-fair (ICE HONG KONG)

Fonte notizia: South China Morning Post