But anyway, thanks to Thomas' efforts we can now confirm that this is Cleverly Street in Sheung Wan. It's hard to believe it considering the way it looks today (a whole chunk of buildings on the left hand side have been removed to make way for a sitting out area). The bank building was located to the right of the policemen at the junction with Burd Street.
Unfortunately the current Streetview has a big truck blocking much of the scene, but I've included it anyway just to give you an idea of how much things can change.
As you can see, most of the surroundings have been redeveloped, and it may come as no surprise to find out that the Jervois Street location I posted about here is actually only about 100 yards away from this location.