China wine imports up
27 May 2004
China's imports of foreign wines climbed 46% in value terms for the first quarter of 2004, the result of lowered import tariffs brought by WTO membership, customs officials said. Once as high as 65%, import tariffs plus value added tax and consumption tax used to add more than 150% to the price of a bottle of foreign wine. Tariffs on wine imports are currently charged at 14%.