Hong Kong's taxes for wines and beers are hopeful to be entirely removed on February 27 so that Hong Kong will probably become the first trade center of wines and beers at local. However, the taxes for spirits will not be changed.

At the end of February of last year, Hong Kong's government had agreed to remove the taxes for alcoholic beverages which were low in alcohol in order to promote economic activities and employment as well as develope Hong Kong to be the center of distribution, trade and logistics. The definite information indicated that Hong kong government wiould entirely remove the taxes of wines and beers on February 27.

Hong Kong halved the tax of wine to 40% last year. One of the governors said that due to the low tax of wine, the government would consider to remove the tax entirely instead of reducing the tax again.

Hong kong's wine tax is higher than that of the neighboring district, so if removing the tax of wine, Hong Kong will become the trade center of wine. Its turnover will increase HK $5 billion which will be much more than the annual revenue of wine (over 300 million HK dollars) while the retail price of wine will reduce 15%. The customers will benefit from it.

The related person said that China mainland's demand for wine was bigger and bigger. More and more people invested to wine industry. China'sconsumption of wine will increase from 2 million cases to 50 million cases until 2017. If Hong Kong removes the tax of wine, it will become the center of wine auction and storage in Asia-Pacific. The information showed that 50 cases of stored wine in England owned by Hong Kong people.