China–India relations major economies in the world. Growth in diplomatic and economic influence has increased the significance of their bilateral relationship. Cultural and economic relations between China and India date back to ancient times. The Silk Road not only served as a major trade route between India and China, but is also credited for facilitating the spread of Buddhism from India to East Asia. During the 19th century, China's growing opium trade with the East India Company triggered the First and Second Opium Wars. During World War II, India and China both played a crucial role in halting the progress of Imperial
Luxury goods of China Luxury goods of China The market for luxury goods in China composes a significant proportion of all luxury goods sales worldwide. In 2012, China surpassed Japan as the world's largest luxury market. According to a blue paper on commercial development in China, released in 2010 by the Chinese Academy of Social Sciences (CASS), China's luxury goods market had increased to US$9.4 billion by the end of 2009. This accounted for 27.5% of the world's luxury goods market, an increase from 25% in 2008. On current growth rates, the luxury goods market in China is expected to grow to US$14.6 billion