Chinese investors become second largest foreign players in French vineyards

Pinot noir grape harvesting in Champagne vineyards, Marne department, Champagne-Ardenne region, France, Europe.[Photo/IC]

PARIS -- Chinese investors have become the second largest foreign players in French vineyards, just after Britain, according to a study published recently by Vinea Transaction, a French network of agencies of wine transactions.

Twenty-one percent of the vineyards held by foreign investors in France belong to Chinese investors, while 22 percent is in the hands of the British, said the study, noting that foreign investors hold totally 12,000 hectares, with just 1.98 percent of the 600,000 hectares of French vineyards covered by the study.

The study was carefully carried out on the French vineyards of major labels, excluding champagne and cognac.

While the British investors cover widely six of the seven vine regions investigated by the study, the Chinese investors focus nearly totally in the region of Bordeaux.

According to Vinea Transaction, 47 percent of the 193 areas in Bordeaux in foreigners' hands are held by Chinese investors, as prestigious areas such as Bellefont-Belcier, Laulan Ducos, or Chenu-Lafitte were purchased by them.

In addition, 90 percent of foreign investments are concentrated in the Bordeaux and Mediterranean areas, said Vinea Transaction.