Propelled by a love of “lucky” red wine, China’s drinkers are now the second-biggest consumers of high-priced wine in the world, new figures show.

Tipplers on the mainland and in Hong Kong, who are lumped together in a report prepared for international wine show Vinexpo, trail only the US in their willingness to spend US$10 or more on a bottle of wine.

The new development comes on the back of a triple-digit percentage growth in the overall mainland wine market – now fifth in the world – and its rise to become the top consumer of red wine last year.

But the industry expects that growth to be trimmed severely in coming years as the market matures amid Beijing’s crackdown on extravagant spending.

Source: scmp.com. We recommend that you consult the full text of this article