Watch cos put cities of their biggest markets on the dials of their WTs. HK was the biggest export market for a long time, but starting a few years ago it was clear that wouldn't be for much longer. Of course, if one's going to put a mainland city, it has to be the political capital, not the commercial one (ok, so a bit of politics).
Related reading from the past several months, about the CN/HK markets, for anyone who's interested (the long, ugly links are so you'll get past the paywall; can a mod pls shorten it?)...
Despite Risks, Watch Brands Are Fixated on China -- www.nytimes.com
Hong Kongโs Global Watch Dominance Comes to an End -- www.nytimes.com