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":"0c294650d7734de4c02ee41539492e37","s":"26ebecb11191e16d"}
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