By Mike Cherney

SYDNEY--Major Australian vintner Treasury Wine Estates Ltd. said it will cooperate with a newly-announced anti-dumping investigation by Chinese authorities into Australian wine exports to China.

Treasury, which has brands that include the iconic Penfolds label, said Tuesday that it is still committed to China as a priority market and will continue to invest in its China business. China has been a major growth market for the company.

"TWE's focus will remain on building premium and luxury brands, investing in the local operating model and team, and working with partners to enhance the wine category and grow our contribution to China," Treasury said in a statement.

Trading in Treasury shares was paused just before the company's statement. Earlier in the day, Treasury shares dropped 14% to 10.60 Australian dollars (US$$7.65) a share. 



  Write to Mike Cherney at mike.cherney@wsj.com