The implementation of the China-Switzerland FTA is implemented today. The majority of friends and fans may have noticed that the Chinese side is reducing its tariffs on Swiss goods, including watches. According to the statistics of the General Administration of Customs, in 2012, China imported a total of about 2.1 billion U.S. dollars of watches and clocks from Switzerland, which are divided into 59 Customs Tariffs, including the clock, watches, timers and spare parts for watches and clocks. The import tax rate ranges from 3% to 23%. But we do not be too excited, high-end watches will not be too much price cuts. For example, according to the agreement, a Swiss watch worth 100,000 yuan will be reduced by 2,700 yuan this year.
000 table world to give you an analysis of one of the reasons:
First of all, we need a clear concept, because China's tax revenue is too heavy, in order to avoid the price is too high, the Swiss watch when pricing in mainland China itself is lower than Hong Kong and Europe. China's import tariffs for 11% -12%, if a watch more than ten thousand, then it will be subject to 20% tariffs, but also includes the customs on behalf of 17% of the value-added tax, so down a high-level watch It is necessary to receive 49% of the tax. It is not hard to see here that the consumption tax and value-added tax on watches and clocks, the duty rate higher than the import tariffs, and will not be reduced by signing the Sino-Swiss FTA.
Free trade agreement reached, the vast majority of the Swiss import tariffs will be reduced from 11-13% to about 5%, will not achieve "zero tariffs." Nearly 90% of our watches are imported from Switzerland, 11% on self-winding watches (including mechanical watches and precious metal watches), and 12.5% on other mechanical watches The species is the highest tax rate.
The Swiss watch tax rate will be phased down, non-linearly by 60% for 10 years, 18% for the first year, 5% for the second to the ninth year, 2% for the tenth year, The final tax rate is reduced to 40% of the initial tax rate. Decrease the tariff by 100% on a 10-year cycle, lower the original tax rate by 10% and the final tax rate to zero. Watches and clocks with this tariff reduction model have 29 tax numbers, but only 2% of the total imports, including clocks, watches and clocks, spare parts, timers and so on. Watch products only electronic watches and electronic pocket watches included in this category, but our country imported from Switzerland, such products rarely. The vast majority of Swiss watches circulating in the Chinese market do not use this tariff reduction model.
Based on the above data, it is not hard to figure out that according to the currently agreed tariff reduction mode, after the 10-year tax reduction cycle ends, if the weighted average of the imports of various types of products in 2012 is still still present, the average of China's imports of watches and clocks from Switzerland The tax rate will be reduced to 4.47%.
Moreover, the decision of the Swiss watch sales price in the country, not only the tax factor. All brand sellers often adopt the strategy of constantly increasing the terminal retail price in order to maintain the high-end brand positioning. This year some of the Swiss watch brands in the country implemented a price adjustment policy, as Zenith achieved when the same price in Hong Kong and Taiwan, and Rolex in Europe and Hong Kong is the price hike. It can be seen that the price adjustment and this free trade agreement have some connection. As China's import tax rate lower, the Chinese market to maintain the same price, it is bound to lead watch prices in Hong Kong and Europe.
Finally, return to the nature of the product. Luxury watch is a luxury category, luxury is the few people can have more scarcity of things. To maintain the status of luxury goods, price war will obviously lower the product worth. Luxury is a product implanted emotion, once the price drop is too powerful, the significance of the luxury itself no longer exists. In contrast, the low-end Swiss watch prices will be more obvious. We must make it clear that the truth is that the tariff reduction does not mean the same reduction in sales prices. Domestic Swiss watch sales price decline will not exceed 10%. So, the free trade will bring lower tariffs, lower tariffs will lead to watch the concept of price decline is not the need to change it? (The above is the exclusive view of million table world)
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