China has announced it will conduct an anti-dumping investigation into Australian wine. 9News
The move could foreshadow a hike in import duties on Australian wine as diplomatic ties between the countries remain strained.
In May, Beijing imposed an 80 per cent tariff on Australian barley exports after it completed an anti-dumping investigation on Australian barley.China will begin an anti-dumping investigation into Australian wine. China's Ministry of Commerce made the announcement about its Australian wine investigation this morning and said it had received complaints the Australian industry was dumping wine into China and taking state subsidies.Shares from Treasury Wine Estates, the makers of Penfolds, dropped nine per cent on the news.
China is Australia's biggest export market for wine and is rapidly growing. In the 12 months to June 30, Australia exported $1.1 billion worth of wine to China, The Drinks Business reports, which was an increase of 12 per cent on the previous financial year.
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