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According to latest statistics, about 30,000 famous-brand watches worth US$2.81 million, representing 15 and 31 times the figure in the same period in 1999 respectively, have been imported through Shanghai into China between January and September this year.
China, for instance, has become the second largest overseas market for" Longines," a famous Swiss brand of watch, whose sales in China in 1999 surged more than 50 percent compared to 1993, Rachel Gracie Mcgrath, vice chief executive of "Longines" said in a recent interview.
Although the prices for these famous-brand watches are very high, there exists a stable consuming group in China that include the bosses of private enterprises, sports and movie stars, and "white-collar" employees in joint ventures, who seek out famous-brand goods, and consider collecting and wearing famous-brand watches as a kind of value-guaranteed or value-added investment, and also as a symbol of personal identity.
Famous-brand watches, currently deemed as luxurious goods in China, are still subject to the restriction of import license and quota, however, many famous manufacturers optimistically anticipate the Chinese market after its accession into the World Trade Organization (WTO), and are enhancing their advertising and marketing in China.
"China has become a place where many master players contend. Each famous watch company is taking every possible measure to satisfy the demand of Chinese clients. We are trying to make China our largest market worldwide," Mcgrath was quoted as saying.
(People’s Daily 11/15/2000)
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