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Swiss watch exports fall to Hong Kong

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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.