Every time I have been to China I have taken up to 4 bottles of Aussie wine without any problems.
But it cannot be a part of your carry-on luggage...must go into the aircraft hold in your main suitcase.
Spirits...bourbon, scotch etc are flammable and would be dis-allowed. Wine is not counted as a flammable liquid for Air-carriage regulations.
I have to agree that Chinese wine is not to my taste. I would not say it is lousy, because that taste is how the local Chinese like it, and are used to. But good quality Western style wine always goes down very well with them, our tastes are to much more full-bodied wines. Local wines (in my limited experience) are very "thin" and one-dimensional.