The luxury market is expanding this year

Despite the slowdown, and the Chinese government’s austerity campaign announced earlier this year, a significant economic growth is expected on the Chinese luxury market – According to industry report projection released this week.

Although the 30 percent average growth rate before 2012 will not return definitely, most analysts expect a double-digit growth on the Chinese luxury goods market.
According to the forecast of the analyts of Deutsche Bank the expected 20 percent expansion of the Chinese market will be responsible for the quarter of the global sales. (MTI)