No price like home: Big spenders reappear in China

Shanghai

CHINA's wealthiest shoppers are spending at home again, roused from a three-year slumber by a weaker yuan, lower prices and a crackdown on overseas sales agents - a welcome boost for the world's luxury brands.

China's rich make up almost a third of the world's luxury shoppers, up from only 2 per cent around the turn of the millennium. They are a driving force for global luxury, even after a slight dip this year when fewer travelled abroad, in part due to militant attacks in Europe.