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Nov
2014

Chongqing: Editor’s view

The luxury markets in first tier cities are close to saturation. As one of the fastest growing cities in the west, Chongqing has become a strategic location for many luxury brands. According to the latest HuRun research, there are 11,500 people have assets over 10 million RMB and 730 have assets over 100 million in Chongqing. The consumption demand of the population is huge.

According to the Chongqing Regional Government in 2013, the Jiefangbei district consumption of watches and jewelry improved and even reached the top position in terms of sales in China. In September 2014, a large Chongqing website called “CQ.QQ.com” launched a luxury consumption survey. Results showed that the 20-35 year old group showed strong spending power on fashion becoming the main luxury consumption group in the city. 40.59% of people in Chongqing claimed that fashion consumption accounts for 10%-20% of their personal income, and 29.21% indicated that fashion consumption accounts for 21%-40% of their personal income. ….

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