US securities dealer Goldman Sachs said in its latest report that China will consume about 29 percent of the world's total luxury goods in 2015, surpassing Japan as the world's top luxury brands consumer.
The Goldman Sachs report, released in Beijing last week, predicted that the demand of luxury goods in China will grow by 25 percent annually in the coming four years, with its global share surging from 12 percent in 2004 to 29 percent in 2015, exceeding Japan's expected 28 percent at that time.
