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I suppose you could make the locals more xenophopic to outsiders to start, and everyone's generally pretty superstitious in one way or another. But from what I've read from it so far it doesn't appear to be that much different from modern day HK to me.
Modern day HK is the most western and relaxed city in China. It's about the only city in china where the locals don't shoot Caucasians 'oh my god, the Yeti actually DO exist!' looks (and, yes, take an occasional photo). Hawke's right, the writeup is basically today's Hong Kong with weird/wild magic because all those Feng shui attacks in architecture work as rituals in SR.
Of course, being Western also has advantages: the locals have a hard time figuring out where your social standing is respectively to them. Especially in cities that aren't big on tourism, but have a significant amount of foreign investment, they are visibly uneasy when dealing with you. I made an arrogant young pilot (captain, air force uniform) stop cold when pushing ahead in a queue in a post station because he was not sure whether I was somehow attached to a business in Guangzhou (and pushing past me would cause me to call my friends higher up in the hierarchy than him, report him and make his life uncomfortable) or whether I was just a dumb tourist and pushing me around was inconsequential. In the end he decided to err on the side of caution. Heh. The foreign ministry also advises to have a photo handy with some politican to wave in front of policemen and claum that this is your uncle/aunt and if they harrass you more you'll call them and they'll be very sorry. Apparently that has a high chance of working, go figure.
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I've been there before and the first thing to get across is the heat, humidity, smells of compacted humanity and the crowds.
And the smell of foreign plants. This is actually the first thing I noticed stepping out of Chek Lap Kok, too. The place has a smell to it that is very distinct to anyplace in western civilisation (which largely smell similar, either side of the Atlantic). It's a melange of grime, seawater, jasmine-like flowers, wet, rotting rainforest leaves, people, spices, and diesel fumes (from all those ships). Also, the reserve in Hong Kong Island's inland means you may well walk down a narrow cyberpunk alley criscrossed by wires and dotted with AC units and neon signs (if you're notably taller than an average chinese, watch your head or be prepared for bruises, seriously) and suddenly see a 5 meter high fence and behind that rainforest.
The second thing I noticed is that everyone has the same hair color. This is much more of a strange impression than I would have imagined. IT also means many Chinese dye their hair - usually men, not women, since it's a status thing. It seems long fingernails for men are also back in fashion, to show how they don't really have to work at all. Fashion is very colourful and uses combinations that would never go in the West, probably to make up for the uniform hair. The city is relatively clean, and you see not too many Graffiti, less than in major German cities at least and much less than in places like Paris.
Also, forget vehicles in this city. If possible, use the subway, it'S the fastest way to get around. In SR it is, I think, tightly surveilled, so the ferries might be an option too, or walking. If you need vehicles, try RVs, bikes, or hijack cabs. The streets are narrow and winding in ways I think an American can hardly believe (for comparison: the narrow alleys between city blocks where dumpsters are and fire stairs end are average roads in Hong Kong; they're narrow for a European, who in turn finds all American cities he saw - which is quite a couple - vastly spaced). Buildings also are often very high, and very narrow - a 10 by 10 meters base may reach up 20 stories.
And there are plants everywhere. Seriously. If there is an unused corner, some Chinese puts a potted plant there. It's cute and unexpected and gives the place a certain unique feeling.
http://jonasdero.deviantart.com/gallery/ has some awesome mood pics for a cyberpunk-esque Hong Kong.