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China’s luxury goods market: how big is it, and what impact has the coronavirus pandemic had?

China is a key driver of global sales of luxury goods, from expensive jewellery to private jets.While the global market for high-end products has taken a hit during the coronavirus pandemic, mainland China’s share of that pie has increased. Here’s a snapshot of the country’s appetite for the finer things in life.How big is China’s luxury goods market?China’s share of the global luxury goods market was about 32 per cent in 2020, but in five years it is set to surpass the United States to become…

Read the original article at South China Morning Post

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