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London (ECNS) -- A forum aimed at exchange and cooperation between a Chinese luxury research team and British luxury firms was held in Leeds, a city in West Yorkshire, England, on Thursday.
More than 70 British enterprises and lawyers participated in the forum held by the Leeds International Business Confucius Institute (LIBCI) and Beijing's University of International Business and Economics (UIBE).
Alastair Morgan, the British consul-general in Guangzhou, who was invited to the forum, said the rise of the high-net-worth consumer in China has been a boon for luxury firms in Britain.
Zhao Zhongxiu, vice president of UIBE, delivered a speech at the forum, summarizing the characteristics and points for economic growth and changes in China's luxury market. He also suggested cooperation between China and Britain.
Fu Yu, from UIBE, said second- and third-tier cities have huge potential in luxury consumption and offer opportunities for British luxury manufacturers.
Zeng Mingyue, also from UIBE, said Chinese consumers whose monthly salaries are above 3,000 pounds ($4,500) are mature at luxury consumption, while those who have lower incomes are immature at both consumption mind-set and behavior.
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