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Consumers from China accounted for 33 percent of global luxury goods purchases in 2019, up from just 1 percent in the 2000. Spending by China's luxury shoppers may reach 1.2 trillion yuan (0 billion) by 2025, according to Bain & Company.

Consumer complaints on exorbitant cancellation fees for discounted air tickets have made headlines in Chinese media over the years.

Connectivity, familiarity

Court documents showed Lai was suspected of requesting a foreign country or an institution, organization or individual outside China to impose sanctions or blockade, or engage in other hostile activities against the Hong Kong Special Administrative Region or China from July 1 to Dec 1.

Consortium led by Fosun invests in Shanghai-based bike-sharing firm