It's a strange zig-zagged staircase that the artist takes to reach his home before he is savagely beaten up by the evil bald henchman. Here's the reminder.
And here is the very same place courtesy of Streetview.
As you can see there has been a little bit of extra development cutting off the top part of the stairway - and it looks very much as though it is now accessible by residents only, but this little place is on Hip Wo Lane. Just of Sing Woo Road in Happy Valley. The rather nice looking building on the left is listed as "Mafoo's Quarters". In case you don't know, the term Mafoo (馬伕)is a Chinese term used to describe a stable hand. It literally means "Horse worker".
So anyway, not being to familiar with the Happy Valley area but I believe the building is owned by the Jockey Club and is staff quarters for its stable hands? Anyway, it's nice to know that this rather attractive stairway is still around - at least in a slightly modified version of its former self.
Update 2017: Actually, not so long ago I made the trip over the Happy valley to take a look for myself and grabbed the snap below.