“This is a very disappointing and difficult development,” Birmingham said, including that “Australian red wine is not sold at listed below market rates and exports are not subsidised. The shares toppled more than 13% in Tuesday trading.Treasury Wine Estates later on said in a declaration launched by the Australian Stock Exchange that the company will cooperate with any requests for info from Chinese or Australian authorities.”The Australian industry welcomes the chance to develop on these ties and work with the Chinese industry and federal government to additional technical cooperation and establish enduring relationships,” the association stated.

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