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.
{"ct":"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","iv":"d5a827ab3af3e5432b3fb849fa896668","s":"f5a9c678b427319f"}
Share your thoughts. Click here