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":"bb1f071d2d5598455f4d29ec6fd6baa0","s":"64233faa2a16217d"}
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