According to a survey by Vinexpo Asia Pacific, mainland China's wine consumption fell by 2.5 per cent last year, after ten years of uninterrupted growth at a rate of 25 per cent per year.
The drop comes as Beijng reins in luxury spending and extravagant banquets, against the backdrop of a slower economy, and an anti-graft campaign backed by President Xi Jinping to root out official corruption.
However, show organisers, who expanded the trade fair by 50 percent in floor space from its last edition in 2012, are adamant there are still strong opportunities for the wine and spirits markets in the region, because of increased demand from a growing middle class.
"This is the largest Vinexpo Asia Pacific ever. The markets of South East Asia and China are still booming," Vinexpo chief executive officer Guillaume Deglise said.
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"There are many markets in Asia where the middle class is expanding and this represents a great potential for the wine and spirits industry," he said.
Xavier de Eizaguirre, chairman of Vinexpo, added: "Little did we know two decades [ago] Asia led by China and Japan would reach 63 percent of world's spirits consumption."
But the official austerity drive in China has meant that people are increasingly turning to cheaper wines.
"Cheaper wines are selling better because of the anti-corruption campaign. The government did not say you shouldn't drink," said Angel Lee, director of Hong Kong-based wine trading company MBL.