Today China announced a halving of export and import duties for "non-American players", which led to a sharp growth of Chinese stocks and the conclusion of new giant deals. Reduction of duties and taxes for friends outside the USA is a retaliatory blow China's "bag war", started by the administration Trump. One example of this is the conclusion of a multimillion-dollar cooperation contract between the retailer of the luxury Yoox Net-a-Porter (YNAP) and the online trading giant Alibaba.



Recall that two and a half years ago there was a merger of two famous online retailers: Italian Yoox and Swiss Net-a-Porter, conducted by their current co-owner holding Richemont. Neither the company Yoox Net-a-Porter, nor the creator of Alibaba Mr. Ma, did not disclose the details of the transaction. Note only that the owner is like a B2B web portal Alibaba.com , as well as retailers Aliexpress and Tmall, under the terms of the transaction, will be responsible for delivery, customs clearance, logistics and working with Chinese customers. As of October of this year, losses from the "strong" "bag war", amount to 75 percent of the total turnover China with the USA. Overheated market China is now forced, on the one hand, to look for other players and partners, and on the other hand, the rapidly growing needs of "insanely rich Asians" (as accurately reflected in the title of the Hollywood blockbuster), cannot be satisfied with Chinese goods. Today more than a third of luxury goods are bought by Chinese (including regions of residence far from their native country). According to the data of 2017 , Chinesepurchased 32 percent of luxury goods, citizens of USA 22 percent, European rich people in total 18.



In 2016, more than 7.6 million Chinese families spent as much on the purchase of elite and expensive luxury goods as the entire luxury market of the UK, USA, Europe, combined. According to the international consultant on the Chinese market McKinsey (McKinsey), this market for the consumption of jewelry, luxury housing and luxury expensive clothing will make up 44 percent of the entire global luxury market in seven years. According to Alibaba, by the summer of this year, the sales growth of luxury goods increased on their sales platform luxury Tmall by 46 percent, and the number of open boutiques of world-famous luxury brands jumped by 36 percent for the year.