By 2005, China will be the main market for luxury goods

According to a report by Goldman Sachs, by 2015 China will consume around 29% of all luxury goods and will surpass Japan to become the world's first market in this category.

The report also forecasts that in China the demand for luxury goods will grow by 25% a year over the next 4 years, from the current 12% of the total demand to an estimated 29% by 2015.

At present, China is the world's third major market for luxury products. In 2004, sales exceeded 6 billion US dollars.

(Source: Ice Shanghai)