In Bordeaux, the disillusionment of Chinese buyers of vineyards
It was still an El Dorado ten years ago. But today, the Bordeaux wine region is turning into a business nightmare for many Chinese investors, forced to sell at a loss due to declining exports and Beijing's restrictions. A report from among the vineyards and châteaux by the British newspaper "The Times."
In the Médoc region, weedy vines wither in front of an abandoned château. The estate belongs to the man we'll call Mr. Wan, one of the first mainland Chinese to acquire a Bordeaux vineyard, in 2011. Today, the septuagenarian, wearing a quilted jacket, walks around the château and its eight unheated rooms, which he's eager to sell.
Unfortunately, he's not the only one in Bordeaux to be in this situation. During the 2010s, no fewer than 176 vineyards in the region were bought by Chinese buyers. “I acquired this estate because it corresponded to a lifestyle I love,” Mr. Wan tells us, who actually owns two properties, the other being near the very telegenic town of Saint-Émilion. Another Chinese, Qu Naijie, has bought 27 estates.
Christophe Chateau, the communications director at the Bordeaux Wine Council (CIVB), is responsible for marketing these grape varieties. He explains that the Chinese dreamed of settling in France because, for them, it's a country that has emerged as a winner from its revolution, despite all the luxury brands it now boasts. “In China, to get through...
Courrier International
