Not in my opinion. However some will say they do such as certain rackets selected for different countries which each have their own code. People try to sell jp rackets for more but in Japan they are sold at the same price as anywhere else. Apparently cn code means Chinese national player but again I doubt the racket is any different and worth the extra.
These particular denominations are typical for Victor rackets , which I just saw confirmed when he started a whole new thread to ask about JP code Victor rackets (and yes, they also sell Victor in Japan so there is bound to be a jp in the serial number). In this case CN is the regular consumer code, as part of the serial number ...
I see, I was talking about yonex. I assume the situation is the same for victor though. Not much if amy difference between codes