Changyu Wine Group Co Ltd, one of China's leading wine producers, has set an ambitious goal to become one of the world's top 10 wine manufacturers by 2008.

 

The goal is based on its bullish performance since its establishment more than 100 years ago.

 

"Changyu is expected to realize a sales revenue of 5 billion yuan by the end of next year, entering the world top 10 list," Sun Liqiang, president of the company, said in a recent interview with China Daily.

 

The company's sales revenue reached 3.8 billion yuan last year an increase of 23 percent over 2005.

 

Based in Yantai, a coastal city of East China's Shandong Province, Changyu has taken a 26-percent share of the Chinese wine market, becoming one of the largest comprehensive wine producers in Asia.

 

Changyu's fast growth is based on the increasing demand in the domestic wine market, Sun said.

 

"Although we have taken a leading position in the domestic market, we will accelerate our development following the establishment of more foreign-funded wine companies," Sun said.

 

To this end, Sun said that Changyu will further promote its wine culture, which has a history of more than 100 years.

 

"Wine culture, for us, is a special intangible asset, which will, by all means, lead to another fast development period," Sun said.

 

The number of visitors to Changyu's wine plant exceeded 2 million last year alone, helping boost the company's brand image and promote its special wine culture, Sun said.

 

Changyu has also attached great importance to developing high-end wine products in the past three years.

 

"We have built a large grape farm of more than 5,000 hectares, which has provided high-quality grapes to ensure the development of high-end wine," Sun said.

 

Last year, Changyu set up an ice wine plant in Northeast China's Jilin Province, becoming China's only producer of high-end ice wine.

 

Besides grape farms, Changyu also attaches great importance to the introduction of state-of-the-art technology and facilities.

 

"We have continued to meet China's wine producing standard and introduced key technology and facilities from other countries. So we are now in a position to keep up with those leading international wine producers in terms of technology and facilities," said Sun.

 

According to Sun, Changyu has invested nearly 300 million yuan in upgrading technology and facilities since the 1990s.

 

At present, Changyu has set up a State-level wine technology center and developed a wine technology research team.

 

To sustain its rapid growth in the domestic and overseas markets, Changyu will also focus on diversifying its wine products, Sun said.

 

The company currently has more than 120 varieties of wine to meet the demands of diverse customers.

 

"We will also expand our sales network in the domestic and overseas markets," Sun said.

 

So far, Changyu wine has entered more than 500 Chinese cities and over 40 countries and regions, according to the company's president.

 

(China Daily March 13, 2007)