well to be safe, I would ride on the tram line. at least car are not allowed to go on!!
Cars do go on the tram line in many places and it's very easy to slip or get caught on the tracks if you have to make a sudden move. My last spill saw me slip right across Kings RD on a wet day because of the slippery tracks. On top of it, the trams are too slow and it's not easy to pass them.
The safest way to ride if you go at a decent speed is to act like a vehicle, take your space in the left lane though I often end up on the right lane because traffic is too slow. I basically ride my bike as if I had a motorbike.
I've never had a collision with a car and I've ridden around 10000km in HK as my odometer can attest. I'd say there a stupid rude driver about once a month where I usually end up slapping the window or the mirror to show my discontent with a few verbal exchanges. On a handful of occasions because of a somewhat belligerent response, I've invited drivers to tango but they were not dancers...
The most common offense is simply to pull up right in front without any regards or to go right pass me to cut me off and then stop suddenly. That's what the minibus did yesterday, I'm riding about 30km/h and he passes right by me, cuts me off and slams on the break to drop off passenger in a place they always stop. I walked on and said a few choice words and proceeded to crank his mirro the wrong way. He was pissed off but didn't see to want a more protracted discussion. Adds a little spice to the day
Biking in Central district is just crazy given a limited amount of space on the road. Unless the government decides to bring bike lanes into HK.
It is the quickest way to get around