Telstra has signed a 4G roaming agreement with Hong Kong CSL, meaning that if you have a 4G phone you can use the faster network when roaming in Hong Kong. That might sound tempting, but with Telstra's extremely high charges for global roaming it amounts to little more than a faster way to waste money.
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It's the first 4G roaming agreement signed by an Australian carrier, and we'd expect there to be more in the future. However, the sting is that you still have to pay Telstra's ultra-high roaming rates: $15.36 per MB, plus a 50 cent connection fee per session. You can save a little money by purchasing a roaming pack, but it remains a ridiculously costly option.
Our advice for travelling overseas and reducing roaming costs for data remains the same as always: use Wi-Fi whenever possible, and get a local prepaid SIM if you're on an extended visit. (Optus' is also worth considering if you're an Optus customer, though the setup is a little fiddly.)