China's luxury goods market accounts for 27.5% of worldwide total

17:22, December 14, 2009      

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Consumption of China's luxury goods accounted for 27.5 percent of the worldwide total, and it is expected that the market will reach 14.6 billion U.S. dollars in China in the next five yeas, which will make the country the largest luxury goods market. Reporters learned this form the seminar on 2010 development trends of China's luxury market, which was held at the Foreign Economic and Trade University.

According to the latest statistics released by the World Luxury Association, the total consumption of China's luxury goods has grown form 8.6 billion U.S. dollars in January to 9.4 billion U.S. dollars at present, an increase of 3 percentage points.

By People's Daily Online
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