Chinese consumers are making their presence felt in many industries. Here are some big predictions for China from three very different sectors:

China on track to become globe’s top luxury car market

NBC News

Demand for luxury vehicles in China will make it the world’s second-largest market for expensive vehicles by 2016 and number one by decade’s end when it will likely surpass the U.S., according to a new study by the consulting firm of McKinsey & Co.

Sales of premium vehicles will probably equal that of all of Western Europe by 2020, as incomes continue to rise in what is now the world’s second-largest economy, according to McKinsey & Co. China is already the largest automotive market in the world overall.

IDC: China smartphone shipments to rise to 460M by 2017

ZD Net Technology

China’s smartphone shipments are forecast to rise rapidly to 460 million by 2017, according to research firm IDC.

Smartphones have already made up more than 58 percent of all total mobile phones sold in the country, which has a booming cellular population of more than 1 billion subscribers. By the end of this year, that figure will grow to 78 percent, and rise again to 90 percent in 2017. 

Chinese connoisseurs buy up Bordeaux’s wines

BBC News

With the wine market in China evolving, more middle-class drinkers are uncorking imported Bordeauxs.

With the wine market in China evolving, more middle-class drinkers are uncorking imported Bordeauxs.

Fuelled by the seemingly insatiable Asian demand, the wine market is booming despite the continued difficulties of the global economy… In 2010, top-end bordeaux outperformed not just equities, but gold and crude oil too, according to Liv-ex, which tracks the prices of the top five Bordeaux châteaux.

Its Fine Wine 50 index rose by 57% last year, far outstripping gold (+35%), crude oil (+20%) and the FTSE 100 (+11%). This year so far, the Fine Wine 50 index is up just over 9%.

China last year overtook the UK and Germany to become the leading export market by value for bordeaux wines. And the Chinese are not just buying bordeaux by the bottle and case but by the vineyard too – earlier this year, Cofco, the huge Chinese state-owned conglomerate and owner of the Great Wall wine brand, bought a 20-hectare estate, Château de Viaud, in Lalande de Pomerol. It is unlikely to be the last such deal.