On April 9, the China Wine Digital Research Institute announced its establishment at the 16th China Alcoholic Drinks Expo hosted by China Alcoholic Drinks Association.
 
“China Wine Digital Research Institute is the first digital research institute in the global wine industry.” Said Sun Jian, general manager of China's leading wine company Changyu Co., Ltd. (000869.SZ), at the opening ceremony.

 
  
Last year, Changyu completed the blockchain technology application of the world's first wine production company under cooperation with Tencent. As of April 8, Changyu had 47.6 million bottles of wine traceable information. Nowadays, blockchain is the first project of the China Wine Digital Research Institute. Changyu invites several other wine companies to jointly use the blockchain platform for free to achieve product traceability, anti-counterfeiting, marketing platform connection, and third-party verification etc, allowing more consumers to trust and fall in love with wine.
 
Tencent is one of the sponsors of the China Wine Digital Research Institute. According to Li Xiuran, senior commercial director of Tencent Smart Retail Strategic Cooperation Department, Covid-19  epidemic had a great impact on the retail industry, but he was pleased to see the GMV (Gross Merchandise Volume) which is based on Tencent’s micro-ecological merchant private domain traffic, rised from RMB 800 billion in 2019 to about RMB 2 trillion last year, indicating that the wave of digital marketing in China has arrived. He believes that the establishment of the China Wine Digital Research Institute will enable consumers to enjoy faster, better and more convenient digital retail services.