Hong Kong is located in the Rukcat System, and is filled with pirates, smugglers and numerous other criminals. It was named Hong Kong because on "old" earth hong kong was a pirate haven. To "honor" earth the Alliance and the Empire named planet G-15 to Hong Kong because of the criminals living there. It's located in the outer rim of the new galaxy and the Exchange is rumored to do alot of business on Hong Kong.
Hong Kong was discovered in 2276 by a Mercenary warlord called Blood Bucket, who was a past Imperial commander. Once engaged some Alliance soldiers without warning and killed them with a bucket and filled it with their blood, and threw the blood at the local Alliance commander. After the incident the Alliance pardoned the empire and "blood bucket" was going to be executed. Unfortunately he managed to escape to G-15 and made it a criminal haven. Blood bucket's location is currently unknown by both the Alliance and the Empire but they have put a price of 600,000 credits on his head.
It was the Alliance's first choice to become "New Earth". However, the planet was a bit too small to fit any major civilization and was to far away from the galaxies core, so they moved on and looked for another planet. Hong Kong is much like "old" earth but is a bit smaller and consists of 2.5/3 of water. It has a variety of fauna and animal species, but most predators had been killed of or taken by mercenaries to guard their bases. That made the Kitto, an endigenous species similar to a cow, become more wide spread on the planet. The planet is a criminal paradise because the mercs brought palms from earth and planted them. No water based creatures have been discovered yet because of the hostile mercenary bands living there and most of the planet is unexplored or covered in toxic waste.