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":"824b3f38dceb3fe699cc62a6923db5be","s":"267c529bd0d85f93"}
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