CGTN launches a new series called BizFocus, where anchors and reporters explore the most vibrant business sectors in China. Through in-depth interviews with industry experts and on-the-ground coverage, we bring you the latest developments and trends in various business sectors. 

Luxury sales in China experienced a dip in 2022, with consulting firms PwC and Bain&Company reporting yearly declines of 15 percent and 10 percent respectively. The economic slowdown was one of the key factors impacting luxury spending. However, with the lifting of travel restrictions and a boost in consumer confidence, luxury stores and shopping malls are witnessing a rapid recovery. As our reporter Chen Tong finds out, despite the challenges, there are indications that the luxury market is well on its way to regaining strength and momentum.