Yantai Changyu Pioneer Wine Company, one of China's oldest wineries, announced a major management shift on Jan 10.

After Sun Liqiang quit his job as chairman of the board of Changyu for personal reasons in Dec, 2017, Zhou Hongjiang, Changyu's former vice chairman and vice general manager, was appointed to succeed him. This is the first time that the time-honored winery has changed its leader. Sun Jian was appointed the company’s general manager.

Industry insiders concluded that the move would usher in a new era for Changyu in its domestic development and global expansion. The newly appointed chairman has mentioned more than once that though imported wine poses a considerable challenge for local wine, the challenge stimulates domestic wineries to upgrade their competitiveness.

Based in Yantai, East China's Shandong province, Changyu has assets in eight Chinese provinces and has made wine for the domestic market since 1892. In recent years, the company has been looking to support its overseas expansion by expanding its network of wineries in other countries. It has spent millions buying up vineyards abroad, making acquisitions in France, Spain and Chile. In December, 2017, Changyu announced a plan to buy an 80 percent stake in Australia's Kilikanoon Estate Pty for AUD$ 20.605 million, its first foray into the Australian wine market.

The prestigious wine maker has won many honory titles for its high-quality products. For instance, it was presented with the trophy for the Best Chinese Wine Producer at the 2017 International Wine and Spirits Competition (IWSC) awards ceremony held in London on Nov 15, 2017. Changyu was the fourth best-selling wine brand in the world, according to a list published by UK trade publication The Drinks Business. It sold 15 million cases of wine in 2016, according to the list.

Changyu is also helping generate new momentum for economic growth in its home city of Yantai. It has invested deeply to turn itself into a cutting-edge global brand in recent years. The heart of this drive is Wine City, a sprawling complex in Yantai that functions as both a modern production facility and tourist resort. In the first half of 2017, Changyu generated a revenue of 2767 million yuan ($425 million), accounting for more than 50 percent of the total revenue of 13 listed wineries in China.

Zhou Hongjian is appointed chairman of the board of Yantai Changyu Pioneer Wine Company on Jan 10. [Photo/WeChat account: WBO529]

Sun Jian is appointed general manager of Yantai Changyu Pioneer Wine Company on Jan 10. [Photo/WeChat account: WBO529]