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!