Amidst the celestial backdrop of a starry night, an intricate ticker dances between the hours and the minutes. This piece of art unveils the meticulous craftsmanship of a Chinese horology master, Ma Xushu. Today, the landscape of the horology industry is witnessing the rise of Chinese watch brands gaining global recognition and accolades from esteemed associations.
In the past, several luxury watch brands have incorporated elements of Chinese culture into their design for the event of Lunar New Year occasions. However, consumer sentiment has shifted from the once-enthusiastic acceptance of such cultural appropriation to a sense of dissatisfaction with the excessive commercialisation and capitalisation of Chinese culture. Consumers now embrace the new wave of ‘Guo Chao’ (meaning ‘National Trend’), an expression of pride in products and brands that are authentically Chinese in design and origin. This transition has paved the way for local Chinese high-end brands to be welcomed with strong reception and enthusiasm, highlighting the growing appeal of homegrown brands.
According to data from the China Horologe Association, the watch and timekeeping manufacturing sector within China experienced a remarkable surge, boasting a combined industrial output of RMB 63.5 billion last year. This impressive figure marked a substantial 32 per cent growth compared to the previous year. The mainland contributed to this by producing a staggering 96.9 million watches, reflecting a notable year-on-year surge of 14 per cent. Significantly, Guangdong has surfaced as the province boasting the most substantial production volume, firmly cementing its pivotal position within this industry. This surge in output is a manifestation of the state’s ‘Made in China 2025‘ initiative, where the nation is steadfast in establishing a reputation for high-quality and innovative production.
Watches of change: Tapping into China’s market potential
Historically, Chinese consumers leaned toward acquiring Swiss-made watches, for their quality and status symbolism. Yet, in today’s landscape, Chinese watchmaking is progressively edging closer to emerging as a formidable contender in this arena.
In fact, a Chinese watch brand secured a chronometer certification from the Glashutte Observatory in Germany, demonstrating China’s production technology and craftsmanship in mechanical watches. This accomplishment serves as proof of China’s prowess in technology within the realm of mechanical watches. Fiyta, a distinguished Chinese brand that not only had its watches accompany Chinese astronauts into space, has received a coveted commission from the China Manned Space Agency. The mission: To develop a timepiece that could endure the rigorous demands of space’s extreme environment – a testament to the brand’s innovation and resilience.
Today, the China Horologe Association, based in the heart of Beijing, says there are more than 200 “major active watch brands” within China, reflecting the nation’s burgeoning advance. This trajectory sees alignment with the ambitious 2025 plan, showcasing China’s committed efforts to enhance its technological advancements across its entire production chain, elevating its design and branding on par with its peers.
Next-gen trends
Once snubbed for low quality, leave it to the Gen Z cohort to make China Cool Again – leading the Guo Chao trend. In an era when watches were once primarily perceived as functional accessories, the admiration for craftsmanship and artistry has ignited an appreciation for Chinese techniques and mastery, with local brands basking in the spotlight. These discerning consumers are redefining luxury awareness on a global scale.
A number of industry analysts are declaring China to become the world’s largest luxury goods market within the next two years, as illustrated by consultancy Bain & Co, Chinese consumers are projected to command nearly half of the global expenditures in this sector. Gen Z consumers alone boast enormous purchasing power and their spending is expected to generate US$2.4 trillion by 2035, according to financial advisory China Renaissance. The transformative change becomes remarkably evident as the post-90s generation now commands a substantial 46 per cent share of sales within the mainland’s luxury market. Their pride for the nation and strong pursuit of domestic consumption has been a pivotal catalyst, positioning China in the horologe industry with a strong identity – all of which is attributed to the patriotic energy of the youths.
Marvel at Chinese master watchmakers
HKTDC is set to unveil the 42nd edition of the Hong Kong Watch & Clock Fair and the 11th of the Salon de TE at the Hong Kong Convention and Exhibition Center (HKCEC), from September 5 to 9. In honour of the Guo Chao trend in horology, a number of heavyweight mainland Chinese watchmakers have been invited to showcase a variety of watches designed with exquisite craftsmanship and Chinese culture, alongside over 820 exhibitions from 24 countries and regions. Visitors will have the opportunity to explore the works of esteemed watchmakers, meet with designers, and experience firsthand the passion that goes into creating these remarkable pieces.
In addition, seminars and buyer forums will be held amongst traders and private buyers to share the latest market insights from industry players. The lineup of seminars includes ‘The Future Trend of Affordable Luxury Watches’ on September 7 where the panel composed of Noel Wong, the founder of Atelier Noel, and William Bai, the founder and chief editor of Watch Traveler will dive into how these emerging watch brands are disrupting the market with their cutting-edge technology and innovative features – and how they are learning from the profound response of the younger generation to this transformative trend.
