(Wine-Searcher) - A recovery in Chinese interest in wine could see more buyouts of overseas wineries and vineyards.

China's wine imports have rallied after three years of decline, prompting the country's top producers to step up the acquisition of overseas wineries.

Imports in August surged 28.9 percent in volume year on year to 44.6 million liters, and rose 12.7 percent to $154 million in value, but the average import price declined from both a month and a year earlier to only $3.45 per liter.

This has meant more competition in lower price-points, where domestic producers had held an advantage over imported wines, sparking a surge in Chinese interest in overseas wineries and related businesses, according to a new report by Chinese think-tank GrandView.

The same report showed China's July wine imports posting a drastic annual increase of 54.9 percent to reach 56 million liters, with the import value soaring nearly 30 percent from a year earlier to $197 million. In the first half of the year alone, the nation's wine imports rallied 35 percent in volume and 33 percent in value. GrandView predicted the annual import volume for 2015 to grow by more than 30 percent overall from 2014.

Yang Zhengjian, a wine industry expert, cited three major reasons behind the sharp growth in imports in the first eight months of the year, which came after three consecutive years of decline from 2012-14. First was the restocking of inventories for medium to low-end wines; second was beer and spirit consumers switching to wine; and third was investors rushing to funnel their funds into the lucrative wine market.

The decline in imports was sparked by the Chinese government's austerity drive, which put a sizable dent in the market for top-end wine in China. However, it provided a much-needed boost for the lower end of the market.

Guo Fusheng, another expert, said a drastic demand for low-end wine fueled by promotions on e-commerce platforms was the major driver for the sharp import growth in the past months. He added that the drop in import price would help spell healthy development for the wine industry in China.

Statistics released by Conseil Interprofessionnel du Vin de Bordeaux (CIVB) showed that exports of Bordeaux wine to China in the second quarter shot up 43 percent in volume and 27 percent in value from a year earlier, after having plunged in the past few years. "This will constitute a major impact on locally produced wine, as the decline in import price will make homegrown wine products gradually lose their price advantage," Guo said.