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China has cut duties on some luxury goods imported through official channels as part of efforts to increase consumption and has opened duty-free zones for domestic tourists.

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In economics, a luxury good (or upmarket good) is a good for which demand increases more than proportionally as income rises, so that expenditures on the good become a greater proportion of overall spending.. Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income.

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The report by the state-run newspaper Iran Daily said import permission for some luxury goods, from foreign-made cars, mobile phones and laptops to home appliances and clothing, were no longer being.

 · While designer goods are certainly desirable in emerging markets, North America was the least interested in luxury brands, with 35% of respondents claiming they would not.

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