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":"0f3b75bd29235bdff9d41a34f8c1e8d2","s":"ba78821c83fdc37f"}
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