Yeah. When I was Googling 14 Eyes, the first result said this: "Fortunately, My Private Network is located in Hong Kong; an ideal country for VPNs to be located in as there are no mandatory data retention laws."Do you mean they're located in HK and using it to avoid eavesdropping/censorship? If so, you're right. Personally, I wouldn't use a service with a tunnel endpoint or worse, servers, in HK.
I don't remember where else. I just often see VPNs located in Hong Kong. A lot of times it's someone using one to poke for vulnerabilities in my website.