On July 19th, the final day of the event, the China Wine Challenge Awards Dinner will bring together the very best talent from the wine industry at home and abroad to announce this year's results. Guests will include renowned sommeliers, leading entrepreneurs and wine enthusiasts.

The 4th China Wine Challenge will be held from July 16th to July 19th 2013 at the Shanghai Hilton hotel. Building on the three previous tournaments, this year's festivities will include more internationally renowned wines from more top wineries as well as globally recognized wine tasters.

Put together by Brown and Co., the CWC brings to China some of the top international and domestic wine masters, to judge and rate the best wines available in China today. Chairman of the Institute of International Wine Masters, Lynne Sherriff, is again chairperson of the CWC jury.

 Rupert Hoogewerf, Hurun Report Chairman and the Chief Researcher, said, "Hurun Report is delighted to be hosting the awards dinner again for China's most prestigious wine challenge.  Whilst prices for grand crues may have come down in the past year, there is still an underlying huge interest amongst the Chinese luxury consumer to explore and collect fine wines."

Ronald Brown, President of the Chinese Wine Challenge, said "With the on-going growing maturity of the China wine market, and the increasing wine selection confidence of China's wine lovers, there is absolutely no doubt that interest in fine wine consumption and investment in China will also continue to grow. The very top estates will of course continue to be in demand, but more and more China wine lovers are looking for uniqueness and value in different price segments. We believe that the continuing education and familiarisation with wine by all China's wine lovers, which lies at the very heart of the China Wine Challenge, will continue to play a key role in the development of the China wine market."

Chinese luxury consumers love red wine

According to the Hurun Research Institute, around half of Chinese entrepreneurs are investing in alcohol with wine investment at 39%. Chinese HNWIs start investing aged 45 and have been doing so for an average of 4.8 years. 74% of HNWIs cited wine investment as a hobby and around half said it was for personal consumption. 71% of Chinese HNWIs purchase wine in China and those that purchase wine abroad is at 50%.

Source: Chinese HNWIs Alternative Investment White Paper 2013