Hong Kong is aiming to establish itself as a centre for the trading of fine wine - alongside London and New York - by abolishing duties on wine and beer.
The move, announced yesterday, makes Hong Kong, which does not have a sales tax, one of the few places in the world where wine is untaxed, according to industry executives. It turns round Hong Kong's alcohol tax regime, which at the beginning of last year included an 80 per cent duty on wine and beer.
