China is the world’s largest watch producer. China’s watch manufacturing industry has gradually formed a clustered development structure with small and medium-sized enterprises as the main body. Private enterprises and foreign-funded enterprises have expanded rapidly (accounting for more than 70% of the total number of enterprises). Six main production areas have been formed in the Pearl River Delta of Guangdong, Fujian, Zhejiang, Jiangsu, Shandong and Tianjin.
Although the development of China’s watch industry has made great progress, it cannot be ignored that the credibility and influence of Chinese companies and their brands in the international market are minimal, accounting for 70% of the world’s output but only 30% of the world’s output value. The problems in the watch industry are also obvious. Industrial transformation lags behind the upgrading of consumption structure; the structural contradictions of watch products are prominent. On the one hand, there is a serious backlog of middle and low-end products and a large excess of production capacity. On the other hand, there is insufficient effective supply to adapt to high consumption. Its high-tech, high-quality, high-end brand-name products still rely on imports. Therefore, the current Chinese watch industry needs to accelerate the pace of technological innovation and develop the core technology of the enterprise; strive to improve product quality and create domestically produced watches; do a good job in product structure adjustment to adapt to changes in the market; In order to improve the international competitiveness of China’s Chinese industry.