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The Business Brief THURSDAY, 20 AUGUST 2026
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Luxury Sales Plunge in China as Tax Push Hits Wealthy Shoppers

1 source ·1 article ·1h ago

Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending by the country’s richest consumers.

Covered by 1 outlet

Bloomberg 1

All coverage · 1 article

Bloomberg Markets ·1h ago

Luxury Sales Plunge in China as Tax Push Hits Wealthy Shoppers

Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending by the country’s richest consumers.