China, a force in watchmaking?

For years, China has been the bellwether of luxury, and very much on the radar of watch industry executives after anti-graft measures and import duty hikes dealt a blow to sales The past months have brought welcome relief as China has settled into the number-three spot as a destination for Swiss watch exports What we don't hear so much about is the role of China as a watch producer.

According to 2017 statistics published by the Federation of the Swiss Watch Industry, around 80% of world watch production in volume comes out of China, for an export value of USD 5 billion The watch industry began to take shape in China in the 1950s and 1960s, mainly through transfers of technology with the Soviet Union and Switzerland Currently the world's fourth-biggest watch brand with revenue in excess of CHF 2 billion, according to Vontobel Bank, the American firm has been making watches in China since 1984.

In 1995, China accounted for 18% of Japanese production, a figure that has now risen to just short of 50% Put simply, almost half of "Japanese" watches are produced in China - although strategic components are still manufactured in Japan. . Source