Hong Kong is to host its own international wine fair this year, in what appears to be a direct challenge to Vinexpo Asia Pacific.

The Hong Kong International Wine Expo will take place between August 14-16th, less than three months after Vinexpo's bi-annual fair in the region has finished.

Vinexpo organisers may see the move as an attempt to usurp their show. Vinexpo officials were considering their response on Thursday, after being informed of the news by Drinks International.

Local authorities hope the new expo will strengthen Hong Kong's hand as wine trading hub in Asia. Plans for the wine expo emerged after Hong Kong's government agreed to drop duty tax on wine.

"We believe that it will provide genuine opportunities for Hong Kong to become a regional trading and distribution hub for wine, particularly in light of the vast potential of the rapidly growing wine market in the Chinese mainland,"said Raymond Yip, assisitant executive director for the Hong Kong Trade Development Council (HKTDC), which is organizing the show.

The Hong Kong show will feature leading wine dealers and cellars from around the world exhibiting categories for Liquor & Beverage Products, Wine Production & Logistics and Wine Accessories, organisers say.

China and Hong Kong currently account for over 60 per cent of Asia's wine market.

James Miles, managing director of Liv-ex, the UK-based stock exchange for fine wine, said: "We are very interested in opening an office in Hong Kong to take advantage of the fast growing number of oenophiles in the Chinese mainland."