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Is Christmas in China really a gift for the luxury industry?

In 1989, the year I was first introduced to China there was no Christmas, or at least there were no visible signs that it existed. People may have seen pictures of Santa, but the celebration we all grow up with was not part of life for the Chinese. Oh how things change; Christmas is now highly audible and visible, having been adopted some years ago by shopping malls to attract consumers and give them a further reason to spend money. So is Christmas yet another gift for those in luxury, a chance to make more money out of the Chinese consumer? …
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