You need to figure out where you want to live. If you want to live in HK, then your wife can easily get a dependent visa, which nowadays gives her total freedom to work anywhere or even start her own business. Of course she can apply for the QMAS but be warned it's a very long process, it might take upwards of 10 months if you need to supply additional information.
She will lose her Australian residency status if you choose this route but she can always get it back easily if she moves back to Australia (as the spouse of an Australian citizen, this is straightforward). I guess this is not ideal from your point of view - it would be nice to have the Aussie passport for travel - but the system isn't designed for peoples convenience.