HK dollars is in controlled by HK central bank which will be heavily influcened by PRC.... BTW, the number of geeks who will use bitcoins in HK is fewer than the number of geerks in US / UK dollar area...
There is no central bank in Hong Kong. HKD is pegged to USD for historical reasons which means the money printing done by US central bank devalues HKD just like USD.
I do want to know what's the cheapest way to convert bitcoin to money in a HK bank account though. Anyone have experience?