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":"b1db9b7a9662cf94818d56dd08160e53","s":"daf386f56dd3f396"}
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