Young shoppers to revive luxury sector

The luxury-goods sector is set for a revival despite the government's campaigns against official extravagance and corruption, as more individual consumers develop a taste for the finer things in life, a government think tank said on Thursday.

The China Consumption Market Development Report 2015, released in Beijing by the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, forecast "a new peak" for luxury consumption this year.

The report noted an "improvement of awareness and demand for high-end commodities" among individuals. It said that luxury and high-end brands, which are offering more personalized products, have attracted more interest from the mass market.