Watch exports from Switzerland to mainland China were greater than those to Hong Kong for the first time in October, as anti-Beijing protests in the city reduced demand for luxury goods.
Exports to Hong Kong fell by 30 per cent – the first time in 30 years that Hong Kong had fewer imports than mainland China
Hong Kong had been the largest destination for Swiss watches for about a decade, then began falling behind the US in recent months.
Rich people in China are increasingly buying timepieces in their home country.