China set to snap up $17 b in luxury goods, pass Japan
By Xu Junqian | China Daily | Updated: 2011-05-06 07:17
Rich buyers catapult country into second place in high-end market
SHANGHAI - China will replace Japan as the world's second-largest luxury goods market this year, behind the United States, according to a global management consulting firm on Wednesday.
If it happens, it will be the first time that sales of luxury goods in China exceeds those of Japan since records began.
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