The scene has no real significance to the plot, but I guess when you spend all that money filming in Hong Kong you may as well showcase some of the sights and sounds. So, here we have a nice yellow tram making the turn from Hennessy Road into Percival Street in Causeway Bay (strictly speaking still part of Wanchai District).
Other than the addition of a pedestrian walkway - because, after all, why should cars be inconvenienced to stop for crossing pedestrians, right? - and the removal of many overhanging signs, the place hasn't changed much physically. Percival Street is still the turnoff/on for trams heading into and away from Happy Valley, but if you were to take a look at shop rents in this area over the past few years you'll find it has become one of the most expensive streets in HK with some utterly crazy prices being paid for prime retail space. Anyway, below is the current Streetview.