I read on this answer by Mark Johnson:
[Since] the general agreement about the issuing of visas states, as a general rule, that visas should be issued at the place of domicile of the applicant (a rule which still applies today), this is probably the reason for this [physical address] field [on some passports].
[...]
FINAL ACT adopted by the Passport Conference on May 18th, 1926.
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RECOMMENDATIONS
SECTION I. - GENERAL QUESTIONS.
II . Facilities to be Granted.
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B. Visas. The Conference recommends:
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(3) That, although as a general rule visas are granted by the diplomatic or consular authorities competent for the place of domicile of the applicant, the diplomatic and consular authorities may in cases deserving special consideration grant visas to persons not domiciled in their area and that as far as possible the said authorities shall not require the applicant to appear in person. In the case of transit visas, the applicant should only be required to appear in person if the authority granting the visas has doubts regarding the case.
Sources:
In what case(s) is a visa only issued at the place of domicile of the applicant? Or is this II.B.(3) rule dating back from 1926 in practice just ignored by all nowadays?
In practice I have never seen a visa only issued at the place of domicile of the applicant. E.g. as a French citizen domiciled in California with a French address on my French passport, I can obtain a Chinese visa in Hong Kong (mirror).
If specific to the applicant's citizenship, I am interested in French citizens (possibly with a US double citizenship) applying for visas.