British luxury goods giant Burberry reported surging sales in China on Thursday, sending Burberry's shares tumbling more than 10%.

Not only Burberry's operating profit fell sharply from the same period last year, but other luxury industries, including LVMH and Swiss luxury giant Richemont, have also warned of slower growth.

In addition, Burberry also criticized the British government for canceling the shopping tax exemption for international tourists, which directly impacted foreign tourists 'willingness to buy luxury goods in the UK. Under inflation and policies, Burberry's share price has fallen 24% since the beginning of this year.