China
January 29, 2026
Beijing skyline at sunset
By Luxury Marketer Intelligence
The mainland China personal luxury goods market contracted by 3–5 percent in 2025, a significant moderation compared with the sharp decline seen in 2024.
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","iv":"0efa86aa0717c454711396bc6c46604f","s":"8943b1665d681c94"}
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