Each of these 7.6 million households spends on common RMB 71,000 in luxurious goods per 12 months-which is twice what French or Italian households are spending. In 2016, we estimate that 7.6 million Chinese households bought luxury items-a number bigger than the entire number of households in Malaysia or in the Netherlands. The number of Chinese millionaires is predicted to surpass that of any other nation by 2018, and by 2021 China is anticipated to have probably the most affluent households on ...
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