While Swiss exports to the EU decreased, exports to China (incl. Hong Kong) increased by 2.1% year-on-year in the first 4 months of 2012.
In the same period of time, Swiss watch exports to China and Hong Kong reached 1.9 billion CHF. This is almost 3 times the exports to the second largest market USA, and more than the exports to all European countries combined. 7 of the top 8 best-selling watch brands in China are Swiss made.