Chinese to Buy One-quarter of World's Luxury Products in 2012, Report Says
(Beijing) – The Chinese have become the world's biggest buyers of luxury products and will buy 25 percent of the total sold in 2012, a report by a business consulting firm predicts.
Purchases of luxury goods in mainland China rose 7 percent year on year this year, but purchases by Chinese people travelling overseas rose 31 percent, Bain & Company reported.
- Deng Xiaoping Gave Double Boost to Reform Efforts, Economist Says
- China as Responsible Stakeholder or Just 'Guest'?
- Qingdao Stepping-Out
- China Mobile to Set up 'Mixed-Share' Company for Content Businesses
- The Muddy Waters of Social Media
- Hami Station Fire
- Chronic Pain
- Zhou Family Legacy: Thick Blood, Fat Profits
- Ex-Minsheng Chairman Takes Helm of Private Capital 'Aircraft Carrier'
- Caixin Podcast: Red Cross Probe
- Sign up to receive our free daily newsletter
- The Jiangxi Township Doing a Brisk Trade in Cambodian Wives
- A Modern Reflection of Germany and Austria-Hungary?
- Closer Look: JD.com Sees Its High Hopes for WeChat Fall Short
- Views: Making Sense of China's Anti-Monopoly Campaign
- Iron Ore Prices Tumble as Four Large Producers Ramp up Production
- Four Shanghai Customs Officials Nabbed by Party Graft Buster
- Zhou Yongkang's Early Years
- Analysts Wonder If Trust Industry Has Reached a Tipping Point
- For Graft Investigators, a Son Like His Father
- Chinese Tycoons, Stars Take up Ice Bucket Challenge for ALS