Extremely wealthy Chinese investors have been snapping up Bordeaux wine estates, right in the heart of France’s most exclusive wine country. Five new chateaus have just been sold, in addition to the 12 that are in various stages of acquisition by Chinese investors.
Chinese investors in the Bordeaux region of France tend to go for the relatively unknown estates located in approved wine-growing areas, often spending on a vineyard what one could spend on a Parisian apartment.
However, Chinese customers are not just buying these properties for the fun of it – many are serious wine connoisseurs who view the purchase as a legitimate business investment. Bordeaux currently accounts for exports of 420,000 hectoliters per year, worth 322 million euros to France.
In addition to the 12 chateaus currently in various stages of acquisition, five new wine estates have just been sold to Chinese investors like Zhang Jinshan (founder of the Ningxia Hong group) who purchases a sprawling, 420 acre estate near the village of Capian and Qu Nai Jie (president of the Haichang Group) who purchased Chateau de Grand Branet, Chateau Branda, Chateau Laurette and Chateau Thebot.
Many believe that these acquisitions are good for France’s vineyards because the Chinese investors want to improve the wine and they have the means to do so. In addition, they are interested in the cellars and they tend to surround themselves with experts.