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Chinese HNWIs Keep on Spending – But on What? | Jing Daily
Experts agree that COVID-19 is no longer simply a transitory economic event, but something much, much larger, with the potential of turning the initial economic shock into a global recession. The luxury sector, which pre-crisis thrived on millions of Chinese consumers and high-net-worth individuals (HNWIs), has been particularly hit hard by this unprecedented public health crisis, as the very same consumers have been in lockdown for months now.
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