Chinese have spent last year 13 billion US dollar on luxury goods, but only 40 percent in China itself, says Shaun Rein in CNBC. Because of the high tariffs luxury goods, including cars, are 20-30 percent more expensive on the mainland. “They are shooting themselves in the foot.”
Shaun Rein is a speaker at the China Speakers Bureau. When you need him at your meeting or conference, do get in touch.