Hennessy steps up China investments

The world's largest Cognac maker is stepping up its investments in China as it remains upbeat on the company's long-term growth prospects in the country, a top executive said.

Frederic Noyere, managing director of LVMH-Moet Hennessy Diageo China, said he believes that in the future, the wine market in China will center on consumption by the emerging middle class.

Already the company's second-largest market after the United States, China will play a major role in the French firm's business, Noyere said.