Chinese paying £200k for whisky
The Chinese really love whisky and, for those with more money than sense, they're willing to pay £200k for it.
"The starting price for a bottle of Johnnie Walker Scotch through the Johnnie Walker House is $3000," said Diageo's Asia-Pacific President Gilberte Ghostine. "It starts at $3000 a bottle and goes up to $300,000 a bottle. And people are paying that."
And people are wise to keep an eye on the Chinese market.
"Eighty percent of Chinese millionaires are below 45 years old. So it's a younger profile than in the US, for example, where only 35% of their millionaires are below 45," Ghostine explained. "The Chinese have an interest in brands with real heritage, history, provenance, craftsmanship and real substance. And this exactly what we have."
Scotch whisky makes up 40% of international spirit imports into China too.
Mr Ghostine said: "It is definitely great for Scotland. Today the Scotch whisky industry is very important for the UK. Every second £134 is being generated by Scotch whisky for the UK and the potential is huge. There is a big correlation between Gross Domestic Product growth in emerging markets and Scotch whisky. The Scotch whisky category is 50% of international spirits market in the whole Asia-Pacific region, and so the potential is very big."
Just wait 'til they discover Buckfast (start stocking up now so you can sell it for inflated prices in the New Year).