Penfolds full steam ahead in China as others fret over e-commerce wobble

The managing director of Treasury Wine Estates business in Asia says the surging sales in China, which have been behind a big profit spike, won’t be crimped by the latest e-commerce regulatory crackdown in China. Treasury’s top brands, Penfold and Wolf Blass, have experienced strong growth as the Asia division more than doubled its profits to $46.5 million in the first half of 2015-16, and the broader industry has also been part of a surge which has made Greater China the largest export destination for Australian wine, overtaking both the United Kingdom and the United States.