Change is brewing in tea trade

The highest grade of Longjing tea (known as "special bright") will be auctioned in Beijing on Thursday for the first time. Longjing village, in Zhejiang province, only produced 10 kg of "special bright" Longjing tea this year.

Some other major Chinese cities have started holding tea auctions, but most tea in China - including virtually all of it in Beijing - is still bought and sold through markets and teashops, even though China produces and exports more tea than any other country in the world.

"Auctions are a more suitable way to trade tea in China and are the most common way to sell the stuff in other major tea-producing countries, such as India and Ceylon," said Han Yi, an official with the Beijing Jiahe Auction House, which will help hold the auction.