China moving into the global watches market

First published: 13-01-2012

The dominance of Switzerland as the leading global manufacturer for fine watches could be about to get some rivalry, as China is looking to put its own timepieces on the market.

Sherzen has been creating timepieces for many years, but rather than producing them for manufacturers, the city is looking to create some for its own brands, the China Daily reported.

The Shenzhen Watch and Clock Association explained the city produced around 800 million watches in 2010, accounting for 43 per cent of the world's global output.

Zhu Shunhua, secretary general with the association: "Making our own branded items will not only help us reduce our dependence on overseas orders but, more importantly, will ensure Shenzhen's watch industry develops sustainably."

Taking a step into the competitive market of fine watches could be an interesting step for the group, as it was recently reported the popularity of Swiss timepieces saw a 16 per cent year on year increase to November 2011.