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May
2013

Watch market is under the ‘red campaign’ in China

As a result of eight new regulations issued by the central government of China, labeled as a ‘red campaign’ aimed at cracking down on extravagance and waste, there has been a significant downturn in the fortunes of the luxury watch sector in China. According to the data released by the Swiss Watch Association recently, the export of watches from Switzerland to Mainland China declined by 25.6% in the first quarter of 2013, and 31.4% in March this year. ……
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