1. The following page reveals that Pay Pal can accept Hong Kong local banks to open an account!
https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-approved-signup-countries-outside
 
Scroll down to
Send. Receive. Withdraw.
 
2. Currency criteria
https://www.paypal.com/us/cgi-bin/webscr?cmd=p/sell/mc/mc_intro-outside
 
3. Fees
https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside
 
Roughly:
3% + $0.59 for each transaction.
Currency exchange fees might apply by your local bank
Withdrawal fees might apply.
 
4. It is no risk (no fees needed) to try to open up an account. All you need is a valid email address. A local ban account having electronic wiring capability. then we can try to see exactly how fees are applied with a trial operation from US.
 
5. I have a pay-pal account and use it in my own Foundation.
 
http://www.watchinmanfoundation.org/donation.html
 
Thanks