Global luxury goods producers are excited for the discovery of a "new land" -- China -- after Japan became the world's largest luxury goods consumer 15 years ago.

According to lately released statistics, the scale of the global luxury goods market had expanded to US$143 billion in 2005. A report of Ernst & Young International, one of the most famous four accounting firms, shows that China's luxury goods market records over US$2 billion of annual sales, and the figure is expected to grow about 20% annually after 2008 and exceed US$11.5 billion in 2015.

By then, Chinese consumers will become as influential as Japanese consumers, and their luxury goods consumption volume will account for 29% of the world's total.