According to Hugill in his SAILORTOWN book, pp. 297, "Hong-ki-kong" is a phrase in "an old German-and Scandinavian- sailor song in 'pidgin'" refering to sampan girls who retailed sexual favors to saolors aboard ships in the harbor:

Von Kanton bis Macao, Hong Kong nach Luliao,
The soldiers and the sailors, Dis sangen gleich ihr Lob,
Fur dinge, dinge, ding-dong!
Fur dinge, dinge, ding-out!
Sie war ein sampan machen und kommt aus Hong-ki-kong!