Veronafiere Group: Shenzhen Baina International Exhibitions company is set up
Veronafiere and Pacco Cultural Communication Group today signed the statutes of the Shenzhen Baina International Exhibitions company with the aim of organising trade fairs and events in China and Asia. The first taskfor the newco – founded under Chinese law with Italian majority shareholding – is the organization of the b2b ‘Wine To Asia‘ event scheduled 9-11 November 2020 in the new Shenzhen World Exhibition Centre.
Veronafiere was represented in Shenzhen by its CEO, Giovanni Mantovani: “After twenty years of operations in China, this new company ensures a permanent presence for Veronafiere that now becomes the landmark for all our present and future initiatives focusing on the Asian market. This is an increasingly strategic area for business. It only need be mentioned that the Far East has registered a leap in value in the wine sector over the last ten years of 227%: eleven times more than in Europe and almost four times more than in North America.”
The Pacco Cultural Communication Group has a 49% equity stake in Shenzhen Baina International Exhibitions: it was founded in 2009 and promotes wine&food and lifestyle sectors in China. It has worked with Veronafiere and Vinitaly for six years. “This long-term partnership let us to to know each other well and we have reached this agreement with the aim of grasping new opportunities for the wine sector both in China and Asia as a whole, markets with the highest potential growth in the world,” said Alan Hung, CEO of Shenzhen Pacco Cultural Communication.