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":"4bfee2250f6792c1dff590f006dd1aa2","s":"2d0324832dca9431"}
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