A Chinese billionaire has snapped up two historic French vineyards for £9.5million (12million euros).

Jack Ma, 51, founder of e-commerce giant Alibaba, bought the Chateau Guerry and the Chateau Perenne, dating back to the 18th century, in the heart of the famous Bordeaux wine-growing region.

Previous owner, French wine magnate Bernard Magrez, confirmed the sale on Thursday after the transaction was reported by the British specialist magazine Decanter.

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Jack Ma, pictured, founder of e-commerce giant Alibaba, has bought two French vineyards for £9.5million

The Chateau Perenne is spread over 158 acres in Blaye Cotes-de-Bourg, producing about 500,000 bottles of red and white wine annually.

Chateau Guerry is the oldest estate in the Cotes de Bourg appellation, producing 84,000 bottles of red a year from around 50 acres of vines.

The purchases add to the Chateau de Sours vineyard, which Ma bought in Bordeaux' Entre-Deux-Mers wine region in February.

It includes a magnificent 18th-century country house.

Magrez said that the sale of the estates were part of a 'strategy to move away from entry-level Bordeaux wines' to top-level appellations, as wine classifications are called.

More than 100 properties in France's south west wine-producing area are today owned by Chinese tycoons looking to diversify their fortunes.

More than 100 vineyards in France's south west wine producing region are now owned by Chinese tycoons (file picture)

This makes up 1.5 per cent of the region's 7,000 vineyards.

Part of the appeal for the Chinese is the status that comes with possessing a noble French chateau as part of their wine-growing property.