Tuscany is the latest wine region to see rising interest from Chinese investors keen to acquire overseas vineyards, according to the Chianti Classico trade body.
A Chinese businessman named Youyi Zhu has acquired the five-hectare Casanova La Ripintura estate located in Greve in Chianti, the Chianti Classico Conszorzio confirmed to DecanterChina.com this week.
The deal was originally reported in Italy magazine, which said Zhu had paid around €2m for the property. The nature of his business in China was not disclosed.
It is believed to be the second Chinese purchase of an estate in the area, following the sale of Poggio Romita in Montefiridolfi.
The deal is also further evidence that China's businesses and wealthy individuals are seeking to buy vineyards in more diverse locations. A trend that began largely in Bordeaux has since spread several other well-known wine growing regions, including Burgundy, California and Australia.
'China is one of our potential growth markets, and we appreciate it if Chinese investors come to Chianti, because they believe in the value of our territory and our wines,' said Silvia Fiorentini, marketing manager for the Chianti Classico Consorzio.
A photography series entitled ‘Chianti through Chinese eyes' was one of the first exhibitions launched by the Consorzio’s new wine education centre, which opened in Radda in Chianti in July. The centre is named Chianti Classico House.
China and Hong Kong accounted for 3% of Chianti Classico exports by volume in 2013.
All rights reserved by Future plc. No part of this publication may be reproduced, distributed or transmitted in any form or by any means without the prior written permission of Decanter.
Only Official Media Partners (see About us) of DecanterChina.com may republish part of the content from the site without prior permission under strict Terms & Conditions. Contact email@example.com to learn about how to become an Official Media Partner of DecanterChina.com.