China's First Watch Trading Center Established in Shanghai

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Last updated at: (Beijing Time) Saturday, March 01, 2003

China's First Watch Trading Center Established in Shanghai

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Famous watches from around the world will be showcased for Chinese customers since the world's most populated country established its first special trading center for timepieces in Shanghai on Tuesday.

Located in the city's Pudong District, the center will focus on international trade, entrepot trade and trade agencies for watches,clocks and parts.

The center will also serve for storage, distribution, maintenance, exhibition and information on watches and clocks.

Famous brands including Omega, Tissot and Rolex have agreed to be members of the trading center.

China abolished quotas on imported clocks and watches beginningthis year, which is expected to entice more international brands to enter the booming market where watches have become more than timekeepers and quality and famous brands are viewed as fashion commodities.

Besides offering special market services, insiders here say thecenter will help establish regulated channels and markets for watch import and export.

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