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Since the start of 2023, Chilean wine exports to the Chinese market have fallen sharply. According to the Chinese official data , China's wine imports from Chile fell 28.23% year-on-year, and the import value fell 35.52% year-on-year in H1. From January to September, China's wine imports from Chile fell by 33.28% year-on-year.

Since 2015, Chilean wine exported to China has enjoyed zero tariffs, and from 2016 to 2022, China has been the largest Chilean wine export country. After the Department of Commerce launched anti-dumping investigations on imported Australian wines in 2021, Chilean wines quickly filled the low-end imported wine market originally occupied by Australian wines. During the year, Chilean wine exports to China reached 256 million US dollars (about 1.6 billion yuan), an increase of 38.1% year-on-year, hitting a record high. 

However, as many importers switched to importing Chilean wine, there was an over-saturation of similar products. The surge in imports caused a backlog of channel inventory,  resulting in a cooling market.