Considering the low level of taxation/ mandatory contributions in HK, for us to have a system even close to the UK is pretty good going. However, there are some fundamental issues in HK that need to be addressed for better care to the general public, but won't/ can't because of entrenched interests.
Following from my post above, there is a failure to increase standards in the private sector by trying to deal with generalists or even specialist in other fields, trying to doing stuff 'belonging' to other specialities. That's why you get the situation of non-surgically qualified (beyond the basic medical degree) doing invasive 'cosmetic' stuff and killing patients, or of private doctors 'holding onto' patients that really should be referred to the relevant specialist. Further to this, a lot of surgeons who became 'specialists' on or before 1993 were 'grandfathered' in, often with only a short period of actual specialist training.
But back to the topic, I fail to see how it'll improve healthcare for the general public, you'll just get a bigger pool of private doctors 5 years later. I expect this will be exacerbated by local doctors who feel that this change is 'unfair' and decide to leave the public system earlier than expected.