China 's anti - corruption watch industry in depression

The Swiss watch group (UBS) released the latest survey report, as China's anti-corruption movement, including Swiss watches and uk replica watches, including the luxury watch industry suffered a severe blow. The industry's sales have double-digit annual growth rate, but now it is in the doldrums, and even to the negative growth. It is one of the main actions of anti-corruption to supervise the valuable gifts between the officials and the relevant stakeholders and investigate and deal with bribery. Business insider (Business Insider) reported that in the face of high pressure, officials have stopped buying watches. Between 2010 and 2011, the Swiss watch exports to China increased by 100%, but then began to fight corruption, the data immediately plummeted. "As a result of the government's suppression of luxury gift giving, the watch industry has experienced serious negative growth," the report wrote. UBS also pointed out that the replica watches industry in the short term never expect to see this situation improved. "Retailers are reducing inventory by reducing the speed of replenishment of unwelcome brands and cutting prices, but more businesses are expected to close," the report said, as watchmakers struggling to survive were forced to save themselves or go bust. "We recently met three watch vendors in mainland China and Hong Kong, namely Hendeli, Oriental Watch and Emperor Watch & Jewellery, all of which said that this year's The business is not doing well and we do not expect the situation to improve during the year. " In addition to Swiss watches, replica rolex watches from the United States has also been a serious blow. "Our study found that Apple watches face a huge threat, and 57 percent of respondents said they would not buy an Apple watch," the report said, but the report predicts that with the release of the second-generation watch next month, Business or will have improvement.