BEIJING - Industry insiders said that China's buyers of luxury goods are young - and lack taste.

According to research from the Hong Kong Institute of Fashion Buying, China's consumers of luxury and high fashion are between 20 and 50 years old. In contrast, luxury consumers in Japan are mainly between 40 and 60 years old.

"'One-off consumption' and 'purchasing on a sudden impulse' are the characteristics of young Chinese fans of luxury fashion," said Gan Jing, a consultant from the Hong Kong Institute of Fashion Buying.