Chinese buy most luxury goods in the world

The purchasing power of Chinese consumers rises with each passing day.In the recent years, China became the world’s largest consumer of luxury goods, overtakingJapan and the US.

Wine, art, gems, jewelry and watches are among the luxury items rapidly growing in popularity as investment items for China’s wealthy.

Compared to Europe and the US, Chinese consumers of luxury goods are younger and the majority are aged 25-40.

Analysts predict that by 2015, around one third of the world’s luxury goods will be bought by Chinese consumers.