The World Luxury Association has recently stated that China would surpass Japan and become world’s top consumer of luxury goods in 2012. On June 11th,the Berliner Tageszeitung quoted a recent report of the World Luxury Association, that the total consumption in the Chinese mainland luxury market reached $10.7 billion USD and accounted for 25 percent of global sales. It is predicted that China will replace Japan as the world's top consumer of luxury goods by 2012.
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Keywords: luxury goods consumption China surpasses Japan consumption Chinese consumption of luxury goods
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