China plans to become the world’s largest luxury market

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CHINA’s is expected to surpass the US and Europe to lead the personal luxury market by 2030, according to a study from accounting firm PwC, reports Caixin. The market is expected to reach a value of US$148 billion by 2030, accounting for 25 per cent of the global total, up from an estimated 19 per cent last year, the report said. In contrast, the US and Europe’s share of global luxury retail is expected to fall from 27 per cent each to 23 per cent each during that period. After fluctuating...

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