Alibaba to supply wines to China

One of the Alibaba’s stores concluded an agreement with the world’s largest wine salons. From now on, the wines will be available in Chinese market, which is crucial for Vinexpo. According to the previous year's results, China red and white wine consumption saw a significant increase of 22% and 64% respectively. The conclusion of this agreement will have a positive impact on the Alibaba shares and by 2020 the wine market in China is expected to grow by 72%.

Since the beginning of June, Alibaba shares rose by 9,9% and continue rising. The trade will be available during American session from 14:40 to 21:00 GMT.

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