Microblog insights

Topic 1: Chinese buyers' appetite for luxury goods is beginning to wane because of rich customers' concerns over the country's economic downturn and the government's crackdowns on corruption and investigations into government officials' wealth, the Wall Street Journal reported. Over the past several years, China has become a critical market for luxury companies. According to Shanghai-based wealth research company The Hurun Report, China has a population of 2.7 million with net assets of more than 6 million yuan ($953,000) each. China's sales of jewelry in the first quarter increased 20 percent from a year earlier while the year-on-year growth rate in the same period of 2011 was 59 percent, statistics from analysts CLSA and the National Bureau of Statistics showed.

XIMENCHUICAIJING: A majority of the luxury goods are faked in China.

ZOUTUQINJIN: The second reason is the root cause of the problem.