In July 2012, the 12th five-year plan for the Chinese wine industry development (“the Plan”) was jointly issued by the Chinese Ministry of Industry and Information Technology (MIIT) and the Ministry of Agriculture.
The Plan focuses on supporting the establishment of wineries and technology innovation of the wine industry in China, and provides clauses covering the promotion of technical advancement and assuring the healthy development of the industry.
Pursuant to the Plan, the government will support the industry in a number of ways. Certain winemakers are eligable to receive support in clean production, the upgrading their technology, energy conservation, independent ownership of important equipment, brand building and public services. Moreover, superior brand wine producers might count on support through the implementation of financial and monetary policies, mergers & acquisitions and restructuring policies, and might be given support to their working capital, debt assessment and employee arrangements.
Finally, the Plan encourages banks and other financial institutions to enhance credit support to wine enterprises that are in line with industry policies for the purposes of risk control and sustainable development.
Kristie Tien
