Shanghai watches were selling at rmb120 fixed price on 60's which equitant to a normal worker's 15months salary. At the time being, Shanghai Watches was the number one band watch in China, represented to high quality and the symbol of wealthy! You may ask about those imported band watches? Sorry, they were all charged with a high import-tax and as a normal civilian, nobody would take the risk to wear imported watch during that red revolution period.
Here, I found the official coupons issued by the province Government for purchasing Shanghai watch on 70's, and a couple of coupon for purchasing Shanghai wooden clock and watch issued on 80's from Shanghai Department Store.