Established by Shanghai government and the World Expo Group, 2015 Yachting Shanghai – the International Marine Festival will feature a wine & food section in the Shanghai Expo Park to demonstrate ‘urban quality life’.
It is well reported that fine wine is becoming an important part of daily life for the middle and upper classes in Shanghai, boosting the consumption of mid-priced quality wines, despite of the government austerity policies that have brought about significant impact on the sales of top-end imported wines.
‘The consumption capacity of middle classes in Shanghai is so much bigger than the small group of really affluent people,’ said Wang Yuan, Chairwoman of Shanghai Yuanzhou Cultural Communication and Shanghai Major League Yacht Club, the organiser of the event.
‘The media has created a misleadingly luxurious image of quality-life products such as yachts and fine wines in China, causing prices bubbles,’ Wang added, ‘We hope people will actually use or drink these products, instead of using them to show off their wealth. And Shanghai is the best place to do just that—Shanghai people long have the reputation for careful calculation and strict budgeting in their lives.’
Currently, 22 producers from France, Italy, Australia, the US, and Canada have signed up to participate in this years’ event, said the organiser, including Domaines Baron de Rothschild, Domaine De Chevalier, Chateau Pape Clement, Robert Mondavi, Chateau Guiraud and Frescobaldi.
‘We have chosen mid-to-higher-price but good value wines that have interesting brand stories,’ said Li Yuyan, general manager of Shanghai Yuanzhou, ‘and we encourage wineries to communicate directly with consumers.’
Read more at Decanter China.