The Chinese taste for buying up French wine estates has not ceased, with news of yet another Chinese businessman buying Chateau Bellefont-Belcier.
More importantly Bellefont-Belcier has Grande Cru Classe status, making it the first one under Chinese ownership.
Herve Olivier, the regional director of SAFER - a government agency that oversees rural land development - believes that there is the possibility that ten more chateaux could be sold to Chinese buyers by the end of the year, provided bureaucratic obstacles
Chateau Bellefont-Belchier is a prestigious estate in the St Emilion with 13 hectares of vines. It is thought that the deal was around two million euros per hectare.
The Chateau had been on the market for a number of years. This September there was a re-classification of St Emilion wines, making Bellefont-Belchier more desirable.