Thomas Chu’s nondescript factory looks like any other in the suburbs of Hong Kong, but it will be a key driver in the city’s bid to lead the world in an emerging industry – wine storage.
“Hong Kong is definitely leading the way in the wine industry,” said Mr Chu, president of the Supply Chain Solutions, a firm that has turned seven vacant factories in Hong Kong into wine warehouses.
The city’s wine imports have skyrocketed while mainland Chinese snap up vintages at eye-popping prices – a bottle of 1869 Chateau Lafite-Rothschild fetched a world-record price of $232,000 at auction last month.
The southern Chinese financial hub is now the world’s second largest centre for wine auctions, having overtaken London, and trailing only New York.