'China red' tea commands big auction price

A can of black tea dubbed "China red" which sold for more than 200,000 yuan ($28,000) attracted the attention of many sellers at the Famous Tea Auction during the Yunnan Lincang Tea Festival, which opened on Saturday in Yunnan province.

Known for its high value in the tea industry, insiders said the "China red" has incredible appreciation potential.

In 1939, Feng Shaoqiu established an experimental tea factory in Fengqing, Yunnan, and successfully produced Yunnan black tea, or Dianhong tea.

After that, British tea merchants shipped the first batch of black tea to London, where Yunnan black tea set the highest price record at that time.

Except for the can sold at Saturday's auction, two other cans of "China red" were given as a gift to Britain's Prince William and collected in a museum of Dianhong Group, founder of the famous "Dianhong tea", according to Wang Tianquan, chairman of Dianhong Group.

Wu Yunru contributed to the story.