The loop around Victoria Peak is a lovely walk and one of the best ways to sightsee on Hong Kong Island. Take the tram from Central and alight at The Peak – the highest point on the island – near the start of the easy 3km walk around Lugard Road. The views are panoramic and visitors are always surprised by how much greenery Hong Kong offers for a so-called concrete jungle.

Every luxury brand is available here. After all, this is the city with five Tiffany boutiques within half an hour of each other. Visit The Landmark and IFC 2 in Central or Pacific Place in Admiralty.

For Chinese-style luxury, try Shanghai Tang in Pedder Street or Blanc de Chine upstairs in the Pedder Building. The boutiques on the top floors of this building are full of recycled designer clothes of local socialites.

Nowhere captures the traditional mercantile nature of Hong Kong and its native Cantonese inhabitants better than the markets in Kowloon. Take the MTR to Jordan Station and head for Temple Street for imitation designer watches, haute couture and a plethora of other goods. Avoid the street dentists, but it's fun to have your fortune told – just settle the price in advance. Nearby is the Ladies Market – more clothes – at one end of Tung Choi Street, while at the other end is the fascinating tropical fish market, the bird market and the flower market.

In Hollywood Road you'll find a wonderful string of shops selling both old and contemporary Chinese art and artefacts, Thai and Himalayan artwork, rosewood and elm furniture, as well as Persian and Indian carpets. It's like visiting a series of exquisite small museums, where you can buy if you like.

Take a detour down Cat Street (it is well signposted) to the lively stalls that sell a mix of interesting tat and a few surprise gems: a good spot for hard bargaining.

The largest of Hong Kong's 235 outlying islands, Lantau is popular for its beaches and monastries as much as for the welcome respite it offers from the hustle and bustle of the city. More than half of the island is designated a national park and is largely undeveloped. Lantau's grandest inhabitant is the aptly named Big Buddha – the world's largest bronze outdoor seated Buddha – who surveys the rugged landscape from his hillock on the Ngong Ping Plateau. If you can make it up the hundreds of steps to join him, the view is well worth it.

Nearby Cheung Chau island is another option for great seafood, secluded beaches, curious shrines and pleasant walks. On the south-east of Hong Kong Island is the sandy Shek O Beach, one of the city's finest, which is relatively crowd-free even at weekends. There are lifeguards, shark nets and facilities, including changing rooms and showers, and a nearby golf course. Overlooking the beach is the 284m Shek O Peak, on the Dragon's Back section of the 80km Hong Kong Trail. Make it to the top and the Peak affords a magnificent view of Shek O, Big Wave Bay and the Tathong Channel to the east, and Tai Tam Bay and beyond to the west side of the penninsula.

Cantonese people simply love to eat, and every cuisine is available here. For traditional Cantonese look no further than Man Wah at the top of Mandarin Oriental (+852 2522 0111).

For dim sum, try the City Hall Chinese Restaurant (+41 (22) 852 2521 1303) behind Queen's Pier in Central.

Excellent Sichuan fusion food is offered at Shui Hu Ju, 68 Peel Street, Central (+41 (22) 852 2869 6927) in a charming, traditional setting.

Try Ning Po Residents Association (+41 (22) 2523 0648) in D'Aguilar Street, Central for Shanghainese food, including sensational dumplings.

Amber is one of Hong Kong's hottest new restaurants and most exciting gourmet experiences. Chef Richard Ekkebus delivers his interpretation of modern European haute cuisine with a mastery of French technique.

For spectacular harbour views, TOTT's at The Excelsior is the place to choose for stylish dining with live entertainment.

For those who desire a fruity version, head for Alibi in Hollywood Road opposite Central Police Station, one of the last Victorian buildings in Hong Kong. Alibi whips up a beguiling number of martinis, and Tuesday and Wednesday evenings are manicure nights, when patrons are offered two martinis and perfect nails for HK$250.

Dragon-I, The Centrium, 60 Wyndham Street, is fiendishly difficult to get into and has a VIP lounge that makes no allowances for wannabes.