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.