Luxury spending
China Daily | Updated: 2011-05-10 07:54
Our country has become a shining beacon of hope for luxury brands as Chinese consumers are driving the growth in many luxury sectors.
As the luster of luxury fades in Japan, luxury brands are expanding their presence and retail locations in China.
McKinsey & Co estimates that the country's luxury spending will more than double by 2015. If so, we will surpass Japan to become the world's largest market for branded goods.
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