While most of the world's vintners-and many economists-agree that it is becoming increasingly difficult to turn a profit making wine, china's wine industry is growing by about 39 percent on the expected value for 2007 (ISIEmerging Markets Database, 2006). In his research paper entitled Dragon Wine: Developments in the Chinese Wine Industry, CEIBS Professor of Management Per Jenster outlines why. the paper has been accepted by the International Journal of Wine Business Research and is tentatively scheduled for publication later this year.
 
Dragon Wine, which tracks the changes of china's emerging wine industry, makes for an interesting read for wine lovers and novices alike, and is required reading for domestic and international players in china’s wine market. "the dominance of domestic wine companies and ignorance of foreign wine brands among the general public imply a tough setting for foreign wine-makers and distributors to enter the market," says Prof. Jenster, in noting the practical implications of his work.

In addition to offering a comprehensive historical analysis of china's wine industry, Dragon Wine uses case studies to illustrate the strategies of leading domestic wine producers, and identifies the top current concerns and challenges in the chinese wine industry. the analysis is supported with statistics from authoritative databases and chinese wine industry associations.

The findings offer a wealth of useful advice for industry players. For example, the professor stresses that: "the lack of a wine culture makes brand marketing crucial to business success."

looking ahead, Prof. Jenster predicts that international wine growers will have an increasing interest in the chinese wine market. he also expects significant changes from the domestic side. "china is also seeing the development of specialty wine stores, dedicated internet-based wine sites, and wine clubs," he said. "these new channels are a good indicator of the small, but growing number of wine enthusiasts who are likely to desire choice and new experience."