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":"bbb4f38a434fe586a323231e86f8a08d","s":"36eb0cc2e32b721b"}
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