New Market Report: Watches in China
The strengthened state censorship in 2013 of controlling gifts to authorities took the anti-corruption crackdown to a higher level and resulted in a severe decline in sales of high mechanical and analogue watches in China. As a result, consumers remained cautious about spending on high-end watches in order to avoid drawing the attention of anti-bribery forces. After a year of intensive anti-corruption crackdown, watches recorded a gradual recovery in 2014 due to an upturn in consumer confidence.
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