Luxury sellers adapt to changing market
By Meng Jing | China Daily | Updated: 2013-05-04 07:57
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A liquor store that sells Moutai in Qionghai, Hainan province, in February. The price of the luxury liquor brand has slumped since the country's new leadership launched a campaign targeting government spending on official receptions, vehicle purchasing and overseas trips by civil servants early this year. Meng Zhongde / For China Daily |
High-end demand starts to taper off as authorities target lavish spending
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