The Ningxiahong Wolfberry Group in northwest Ningxia Hui Autonomous Region recently purchased Chateau du Grand Mouey's estate in France's famed Bordeaux region with 10 million euros.

The purchase will help speed up Sino-French wine culture exchanges and improve the core competitiveness of Chinese brands in the world, said Zhang Jinshan, president of the private group corporation.

The chateau's new owner considered that overseas investment by Chinese enterprises will become an inevitable trend with the growth of China's economy.

Established in the middle of 15th century, the Chateau du Grand Mouey covers an area of 170 hectares, producing 400,000 bottles of quality Bordeaux wines annually.