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Gift-giving boosts Swiss watch sales in China

Gift-giving during China’s Spring Festival helped support a strong rise in sales of Swiss watches in January, a report showed on Tuesday.

Exports of Switzerland’s most famous luxury item to the Chinese mainland rose 32.2 percent to CHF120.1 million (USD131.4m) last month, compared with the same period a year earlier, the Federation of the Swiss Watch Industry said. Hong Kong contributed CHF291.2m to global sales in January, up 33.2 percent.

The robust performances of both the mainland and Hong Kong were in line with the 2011 trend and helped the overall value of Swiss watch exports grow 15.5 percent to CHF1.3 billion in January.

(Source: Shanghai Daily )