i read from some interviews with chinese watch manufacturers, e.g. dongfeng/seagull. probably not this year, will post link if i can find it.
if you follow the 60% swiss rule there was a huge debate within the swiss parliament themselves. and was only going to be applied in the watch industry, not trains etc. and took years for the ratio to be upped from 50%.
watch aficinados and WIS welcome it to support the whole swiss idea, but swatch and the bigger watch groups were under threat as 50% made in swiss could be conferred as 50% made in china too

if china required it to be by way of import legislations.
counterarguments is that 60% made in switzerland will see the end of cheap swiss watches (e.g. mondaine), and an influx of chinese owned swiss run factories.
also this 60% rule excludes costs of raw materials e.g. steel... as switzerland does not have raw materials, and now includes costs of RnD so if you ask me, very open to creative accounting.