China Foods

China Foods, a division of Chinese conglomerate Cofco, has announced that it is to offload its wine and non-beverage business, including the flagship Great Wall brand,  in a deal worth 5,069 million HKD ($649.2 million). Explaining the rationale for the decision in a statement, China Foods said: “The wine industry in the PRC has faced increasing competition and is expected to remain in a slow growth rate in the next three …