Sour grapes + spirited e-commerce = sweet profit

The Anbang Insurance-led consortium has blamed "various market considerations" for its failed attempt to buy Starwood Hotels & Resorts Worldwide Inc for $14 billion. Sour grapes?

But grapes could turn sweet for Anbang if it emulates other investors and invests in China's wines and spirits businesses. Alcohol appears capable of generating long-term returns on investment, a potential alternative to real estate that cash-flush, M&A-minded Chinese companies are snapping up worldwide.

Not just overseas vineyards and wineries, even alcohol startups launched in the past 10 years, are attracting big-ticket investments. In terms of funding globally, the top 10 alcohol startups received $686.4 million so far, according to Tracxn.com. Of them, five are from China that accounted for $533.3 million or 78 percent of the funding.