China's watch industry is having a tough time as foreign producers step up competition. China produced more than 81.92 million watches in the first four months of this year, 20 per cent less than the same period of 1995, the China Light Industry News was quoted by Xinhua (the New China News Agency) as saying. The paper said retail sales volume of watches in the domestic market dropped 15 per cent in March-May from the corresponding period last year. Many of the country's watch-makers were suffering from poor economic performances and the market was comparatively saturated, leading to sluggish production and sales of watches.
