I have personally purchased 3 Powerbooks, 3 MacBooks, 1 MacBook Pro a PowerMac G5 and a 23" Cinema Display in Hong Kong all for less than the "sticker" price.
There are quite a few bigger stores in and around Central/Causeway Bay that I have found good in the past. There is one on Stanley St (I think, might the next one up) in Central, and then there is the Designer Group in IFC as well as in Windsor House (Causeway Bay). There is also another one in Windsor House (PC & Mac Gallery from memory) which I have heard is good from friends but I have never got anything from them though. All of the stores will generally start out saying no discounts on hardware, but if they know you are serious and not just "kicking the tyres" they will usually knock something off the price, they will also generally throw extras in for free as well (cases etc), and give you much better prices on RAM and stuff like that.
Also something you need to keep in mind is the exchange rate, this will usually (depending on the country you're coming from) will result in a instant saving that is usually considerable.
Oh also keep in mind to shop around at the other stores as well, if the sales people know you are looking elsewhere they will work harder to keep our sale as they work on commission.
Good luck and enjoy your time in HK... oh how I wish I was back there, time for a holiday I think
EDIT:
they have mbp, and always willing to bargin with you. bring cash though!
Good point iamth3g! If you pay cash they will pretty much always do you a better price, even at the IFC Designer Group store.