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French Burgundy chateau attract Chinese buyers


11:02, August 28, 2012

As more and more Chinese investors are focusing attention outside the country, the world is feeling China’s growing economy power. One wealthy Chinese has bought a historic Burgundy chateau in France. The purchase marks a new chapter in the history of wine-growing in the region, and has received mixed reactions.

Globalization has come to this quiet corner of rural Burgundy.

This medieval chateau was snapped up earlier this year for some eight million euros by a Chinese investor. Potential local buyers had been priced out.

The news has been received with mixed feelings in the heart of one of France’s most famous wine-growing regions.

Hubert, French tourist, said, "I’m surprised because it’s such a part of the local area that it’s odd they could have let it slip away. But everything depends on what they do with it. But it’s true that it would be good if it had stayed part of our heritage."

The purchase is part of a growing trend of Chinese investment in French vineyards. China is becoming an increasingly significant consumer of the most famous French exports.

China has become the biggest importer of Bordeaux wines. Consumption there soared by 110 percent in 2011 alone. And there’s no sign of quenching a seemingly insatiable thirst.

Chinese investors are already the proud owners of some thirty chateaux in the region.

Local councillor Jacques Dorey said that the village’s chateau was now in safe hands and can look forward to a sound financial future. What’s more, the fabric of local village life has been left undisturbed.

Jacques Dorey, Councillor of Gevrey-Chambertin, France, said, "Well, I think the Chinese man is solvent and there is a great chance that the chateau will be looked after. The chateau itself will not disappear and that not much will change in village life, while an excellent winegrower will still be looking after the vines."

As globalization is touching every corner of the world, the chateau may change under different names. But the bouquet of the wine doesn’t.

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