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":"bd402c5368d595a2294caf59834cbe5a","s":"685e8b9849008c26"}
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